Chinese Stocks Declined: DL Fell by 19%
Stocks of most Chinese firms listed overseas slumped heavily when the market closed on Friday. Five stocks fell by over 9%, among which the stock price of China Distance Education Holdings Ltd. (DL; 20.17, -4.89, -19.51%) declined by 19.51%. Only the share prices of NASDAQ: GAME (GAME; 5.65, 0.25, 4.63%) and The9 Computer Technology Consulting Co., Ltd (NCTY; 2.53, 0.06, 2.43%) rose by over 2%.
Baidu Bought Full Control of Nuomi.com
In August of 2013, Baidu announced to make a strategic investment of 160,000,000 dollars in Nuomi.com and obtained about 59% shares, becoming its largest shareholder. The deal would have been completed in October of 2013.
The rapid development of mobile Internet has converted the focus of group-buying websites to mobile ends. According the analysis by Tuan800.com (a navigation website of group-buying), the portion of mobile group-buying has already reached about 50% of the group-buying websites. Group-buying on mobile phones has also contributed to the breakthrough of transaction volume and increase in buyers.
Internet magnates like Baidu, Alibaba and Tencent are all looking for a position in the O2O market at a faster speed, including the group-buying market. Meituan.com has Ali in the back, while Groupon has Tencent, and now Baidu stands behind Nuomi.com.
Musk: Tesla Will Build Factories in China Expecting Policy Support
In the eye of Elon Musk, to gain the license to sell Model S from Chinese government was the toughest ordeal that the company had ever met. “They are the strictest on the planet,” he says, “they seem to care a lot about the quality.” Besides the security problem, Chinese officials even examined the leather used on the chairs of Model S.
Musk says that in order to dodge the import tariff and gain the governmental policy support on zero-emission vehicles, Tesla have to conduct local production. According to the relevant policy, purchasing electric vehicles can obtain the governmental support of 60,000 RMB at most, but it is hard for import manufacturers to appear on the list.
Long-term, says Musk, we may even build a factory in China—dodging those import tariffs and making the Model S even more affordable.
