What happens in one minute on China's internet (Infographic) - Tech in Asia. China’s Inescapable Tencent Adds Hollywood Movies to Its Vast ‘Walled Garden’ - WSJ. The moment the US gave the world to China. The Chinese didn't imagine that the US would walk away from global leadership so readily.
But it has happened, in plain view. After 1,000 Year Slumber, China Vows to Invent Again. What is WeChat Payment? A Simple Guide - WalktheChat. What is WeChat payment?
WeChat payment is a payment solution completely integrated inside the social and messaging application of Tencent: WeChat. It appears in the “Wallet” section of the application. Through the wallet section and the integrated browser of WeChat, users can perform a variety of transactions using WeChat Pay, including and not limited to: China's $100M mission to grow 'olive ball' A year ago, it had 76,000 rugby players.
In 2016, another 60,000 Chinese were introduced to the oval-ball sport, and officials there hope for as many as a million players in five years. Just 0.01% of its populace are involved in the game -- barely a drop in the sporting ocean -- but China's politicians and sporting powers are keen on a quick step to rugby hegemony. As its population approaches 1.5 billion -- roughly 20% of the world's total -- it is understandable that World Rugby is leaping at the chance for the game to conquer the territory.
But is it really possible to achieve such a gargantuan rise in playing numbers in such a short space of time? "We have a fixed objective of one million players in 10 years, but that's being readjusted by the federation to five years I believe," Gosper says. China’s Small Private Banks Find it Tough to Navigate Land of Lending Giants. The Simple Truth About China’s Economy. China Sets New Tone in Drafting Cybersecurity Rules. China is taking a more inclusive tack in instituting cybersecurity standards for foreign technology companies, allowing them to join a key government committee in an effort to ease foreign concerns over the controls.
The committee under the government’s powerful cyberspace administration is in charge of defining cybersecurity standards. For the first time, the body earlier this year allowed select foreign companies— Microsoft Corp. MSFT 0.38 % , Intel Corp. INTC -0.17 % , Cisco Systems Inc. CSCO 0.74 % and International Business Machines Corp. How much influence the foreign companies will have over committee deliberations remains to be seen, these people said. Representatives from Microsoft and Cisco confirmed the companies are members. eMarketer. eMarketer. eMarketer. Uber in China: Why Foreigners Never Win in Tech. Ecommerce Drives Retail Sales Growth in China.
Although China's economy as a whole has suffered from a great deal of instability this year, its ecommerce sector is and will remain a major driver of economic growth, as internet penetration and smartphone ownership continue to increase.
A new eMarketer report, “China Ecommerce: 2015 Market Update,” explores how the digital retail market is developing in the country. China's macro economy has showed sustained signs of weakness throughout 2015, with the real economy struggling to perform a turnaround. A cooling housing market, comparatively weak investment growth and slumping exports have weighed on the country's fortunes, despite a series of fiscal and monetary policy easing measures by the central government and sustained intervention in the stock market.
Retail Sales Worldwide Will Top $22 Trillion This Year. Retail sales worldwide—including both in-store and internet purchases—will reach $22.492 trillion this year, according to new figures from eMarketer.
The global retail market will see steady growth over the next few years, and in 2018, worldwide retail sales will increase 5.5% to reach $28.300 trillion. This is eMarketer’s first-ever forecast of the global retail market and retail ecommerce sales worldwide. The complete forecast also includes a breakdown of total retail and retail ecommerce sales in 22 countries, as well as the number of consumers who shop and purchase goods via the internet in each of those markets.
When it comes to retail products and services purchased on the internet, ecommerce will account for 5.9% of the total retail market worldwide in 2014, or $1.316 trillion. By 2018, that share will increase significantly to 8.8%, yet retail ecommerce will still account for just a fraction of in-store purchases even as it nears $2.5 trillion by the end of our forecast. Baidu and Tencent to dominate digital advertising market in China - Mobile Advertising & App Marketing. Chinese tech firms, Baidu and Tencent are on a trajectory to dominate digital advertising in the country comparable to Google and Facebook in the US.
That’s according to a Goldman Sachs report. Tencent and Baidu to dominate digital ad market in China Source: blogs.wsj.com Combined, Google and Facebook roughly represent up to 80% of the US digital advertising market in 2016. Heather Bellini, Analyst, Goldman Sachs, explains that Chinese digital advertising was eating strongly into the country’s media ad spend. “Tencent and Baidu, principally the leading social and search engine in China, respectively, contributed 56% of the ad revenue growth among the major Chinese online market companies that are covered by [Goldman Sachs].”
Games, online advertising, eCommerce, travel, local services, finances and cloud computing are touted as the top pillars of the Chinese Internet market, says Goldman. Tencent Warns of Challenges to Ad Business, Despite Strong Results. Tencent Makes Advertising Push. Mobile Payments Will Triple in the US in 2016. The number of people in the US using their phones to pay for goods and services at the point of sale will continue to climb steadily, with 2016 being a year of significant growth for the technology.
According to the latest proximity mobile payments forecast from eMarketer, the total value of mobile payment transactions in the US will grow 210% in 2016. eMarketer defines proximity mobile payments as point-of-sale transactions that use mobile phones as a payment method, via tapping, waving and similar functionality. In 2015, mobile payments will total $8.71 billion in the US, with users spending an average of nearly $376 annually using their mobile phone as a payment method. By 2016, total mobile payment transactions will reach $27.05 billion, with users spending an average of $721.47 annually. China E-payment Reached $86.17 Trillion in Q3 2015. China's new 'Internet Plus' ambition: is it all about more smartphones? China’s 'internet plus' strategy, announced in early March, promised to integrate mobile Internet, cloud computing and big data for manufacturing and promote the development of e-commerce, industrial networks and internet banking.
But how would this ambitious plan to transform the country into a digital economy work in practice? Already more than 630 million Chinese use the Internet and there are 570 million mobile users who feed Internet businesses worth more than 2 trillion yuan (US$323 billion), according to a Ministry of Industry and Information Technology report in 2014. Yang Weiqing, the founder of iResearch, a leading research group on the Chinese IT industry, thinks that end-user devices are the most important, so the government should focus on smartphones and similar devices, which will be at the centre of all Internet-related businesses and the Internet Plus.
Smartphone makers have already been pushing this view, given the potential for them to grow their sales. China’s 13th Five-Year Plan: Q&A with Scott Kennedy and Christopher K. Johnson - China Real Time Report. Analysts Scott Kennedy and Christopher K.
Johnson with the Center for Strategic & International Studies in Washington, D.C., have released Perfecting China, Inc.: The 13th Five-Year Plan, a report on China’s latest policy blueprint. Here is a question and answer with the authors, edited for length and style. Aren’t five-year plans outdated? Why does China still use them? Internet Plus. Old Version | 中文 | 11 July 2016 Premier: Internet Plus to boost growth Premier Li Keqiang said that promoting Internet Plus offers an important opportunity for economic transformation. Premier Li promotes big data potential Premier Li Keqiang has called for business models based on big data to push forward public entrepreneurship and innovation. Mobile Wallet POS Payments - China. Mobile Wallet POS Payments The “Mobile Wallet POS Payments” segment includes transactions at Point-of-Sale that are processed via smartphone applications (so-called “mobile wallets”).
Well-known providers of mobile wallets are ApplePay, Google Wallet and Samsung Pay.The payment in this case is made by a contactless interaction of the smartphone app with a suitable payment terminal belonging to the merchant. The data transfer can be made, for example, via wireless standard NFC (Near Field Communication) or by scanning a QR code to initiate the payment. Whitepaper: China Internet Statistics & User Insights. China Digital Consumer View 2015. China Offline Payment Market Insight in 2015. China Digital Consumer View 2015. China Digital Consumer Study 2016. Ecommerce Drives Retail Sales Growth in China. What is Alibaba? Tencent Makes Advertising Push. Chinese Company in Patent Dispute With Apple Barely Exists. U.S.-China Trade Troubles Grow. China's Reckoning: The Economic Miracle Hits Troubled Times. For All Its Heft, China’s Economy Is a Black Box. Chinese GDP Data: How Reliable? - China Real Time Report. Reuters A labourer works on a steel structure at a financial building construction site, as the cityscape is seen amid smoke from burning straw, in Hefei, Anhui June 3, 2011.
By Tom Orlik How big is the Chinese economy? Answering that question is not as straightforward as looking up the number on the National Bureau of Statistics website. China’s GDP data is haunted by controversy, with widespread doubts about its accuracy. The release last year of U.S. diplomatic cables by Wikileaks has added further fuel to the fire. A smiling Mr. But is the man tipped to be China’s next premier right to distrust the GDP data?
Doubts about the reliability of China’s GDP data do not come from nowhere. That number is wildly at odds with evidence of much slower growth from output of cement and electricity, imports and airline passenger numbers – all data series that should closely track GDP. It is not always on the upside that the NBS errs. That reflects two problems with the local numbers. Kingmakers of China’s Internet: Baidu, Alibaba and Tencent. Hong Kong Unlikely to Return Bookseller Wanted in Mainland China. HONG KONG—Officials here said Wednesday there was little chance a local bookseller wanted in mainland China would be sent back after mainland authorities threatened him with tougher punishment if he didn’t return. Security officials also said they would further investigate the case of Lam Wing-kee, whose revelations last month about being secretly arrested and interrogated in China over his company’s books rekindled fears that Beijing is tightening its grip on the semiautonomous city.
Mr. Veteran Chinese Diplomat Warns on South China Sea Ruling - China Real Time Report. As tensions simmer ahead of an international tribunal’s ruling on Beijing’s claims over the South China Sea, a veteran Chinese foreign policy maker is sending a stern warning about putting the verdict into action. Dai Bingguo, a retired official who spent nearly two decades at the center of China’s foreign-policy making, urged the U.S. in a speech Tuesday to scale back its “heavy-handed intervention” in the disputed waters and accused Washington of sowing discord and provoking Beijing. “The temperature of the South China Sea is now high enough,” Mr. Dai told a gathering of Chinese and U.S. think tankers in Washington. “If such momentum went unchecked, accidents could happen and the South China Sea might sink into chaos and so might the entirety of Asia.”
Mr. Chinese officials have repeatedly dismissed the tribunal’s authority and said they will ignore the verdict, despite calls from the U.S. and its allies for China to comply. Mr. Carl Icahn sells entire Apple stake on China worries, warns Wall Street of 'day of reckoning' Microsoft Shuts Chinese Web Portal as It Shifts Focus There. Beijing: Apple iPhone Violated Chinese Patent. China’s Content Crackdown Forces Western Media Concessions. China’s Tech Rules Make It Hard for U.S. Firms to Take Control.
Baidu Plans to Mass Produce Autonomous Cars in Five Years. Untangling China’s Cybersecurity Laws - China Real Time Report. China has drafted several security laws over the past year that tighten regulation over suppliers of technological equipment and services. Chinese officials say the measures are necessary to national security, allowing them to verify that critical equipment isn’t vulnerable to hacking and to help them track down criminals and fight terrorism. But the rules have been criticized by foreign governments and trade groups as onerous and a possible way to discriminate against non-Chinese vendors. Many of these measures involve the concept of “secure and controllable” technology, a loosely defined term that involves government security checks and data storage within the country.
Here are some of the major cybersecurity laws that have been drafted: -National Security Law: Passed July 2015. -Counterterrorism Law: Passed December 2015. -Cybersecurity Law (draft): First reading July 2015, second reading expected this month. -Write to Eva Dou at firstname.lastname@example.org. China has 40.6 million private businesses. The number of individually owned businesses and private enterprises in China exceeded 40.6 million at the end of January, state-run news agency Xinhua reported the State Administration for Industry and Commerce as saying Sunday. Those businesses provide jobs for about 80 million people and report two trillion yuan ($321 billion) in capital, Xinhua reported. Ninety% of the individually owned concerns are in the services sector, 8% are in secondary industry and 2% are in primary industry.
Half of the businesses are located in the eastern regions, 30% are based in the central regions and 20% in the western areas. How Many Companies in China? Chinese Market Entry. Forbes Welcome. Byron Wien: What Investors Need to Know About China. Alibaba Affiliate Ant Financial Raises $4.5 Billion in Largest Private Tech Funding Round. President Xi Jinping’s Most Dangerous Venture Yet: Remaking China’s Military. BDA - Opportunity through Insight. Chinese Voice Frustration Over ‘Great Firewall’ Global Finance and Economics. Investors may pay the price of state of denial over China. China has a $777 billion problem with unpaid bills. Tencent Makes Advertising Push. Alibaba Affiliate Ant Financial Valued at More Than $50 Billion. ZTE Restrictions Bad News for U.S. Tech Suppliers. Ep 21 - Graham Fink is the culture chameleon by The CMO Show (start @ 6mins) What happens in one minute on China's internet (Infographic) - Tech in Asia. China’s Censorship Clampdown Stirs a Pushback.
Apple Sales, Profit Surge in China. China Seeks Compliance Commitment From Foreign Tech Companies. As Apple Pay Debuts in China, A State-Run Newspaper Voices Support - China Real Time Report. How Mobile Payments Reshape Lifestyles. China to Wall Street’s Deal Makers: We Don’t Need You. China Issues Broad New Rules for Web. Potty Discipline: China Mulls Blacklist for Misbehaving Public Toilet Users - China Real Time Report. China’s First Online-Only Insurer Zhong An Plans Up to $2 Billion IPO. China’s Consumer Inflation Picks Up on Lunar New Year Buying. Overproduction Swamps Smaller Chinese Cities, Revealing Depth of Crisis. Fears of a China Crisis Are Greatly Exaggerated.