Lu Wei Emphasized information safety when visiting Apple
The Head of the State Internet Information Office declared that China opens its market to Apple, yet as a precondition, Apple has to ensure Chinese consumers' information safety and privacy. While meeting Cook, Lu Wei pointed out that China is the largest oversea market for American internet companies. Among the increasing consumers of Apple products, more than half of them are from China. Cook responded by promising that Apple would not provide any user information to third party.
Didi Car Service is considered illegal by the Department of Transportation of Shenyang
The Department of Transportation of Shenyang declared that Didi Car Service is operating illegally. The Administrative Department of Nanjing also clarified that unlicensed private cars are not allowed to provide conpensable services.
Wang Jianlin kicked off the roadshow yesterday. The prospectus document show that the cap of the issue price is 49.6 HKD. Wanda would issue 6 hundred million new shares, which is lower than the prediction of investment banks. Wanda would probably get listed in the end of this month.
Xunlei Pop-Up Window Service Shut Down For Pornography
According to the State Internet Information Office, the users of Xunlei informed them that Xunlei Pop-Up service contains pornography contents and inaccurate news information. Guangdong Internet Information Office recently had Xunlei Pop-Up Window Service shut down.
Game Operator Linekong To Make HK IPO December 19, Raise Up To $190 Mln
Cornerstone investors of Linekong includes Fubon Insurance, Huiqiao Investment Corporation and Greenland Capital. The total subscription of these three investors amount to 55,000,000 USD.
(English) Chinese stock benchmark index regains 3,000-point mark
Chinese shares continued their rise on Monday, with the benchmark Shanghai index jumping over 2 percent to regain the 3,000-point psychological mark, the first time since April 25, 2011. Financial companies, aviation firms and shipbuilders led the charge.
(English) Zuckerberg, Cook Meet China’s Internet Minister in U.S.
Lu Wei, minister of the Cyberspace Administration of China, visited the companies’ offices, according to the report by China.com.cn, which is under the State Council. The post didn’t elaborate on the reasons for Lu’s visits or the dates. Facebook CEO Mark Zuckerberg greeted Lu in Mandarin, and Lu found a copy of Chinese President Xi Jinping’s book “The Governance of China” on the billionaire’s desk. Zuckerberg, who was named to an advisory board at Beijing’s Tsinghua University in October, told Lu he gives Xi’s book to colleagues “to let them know the characteristics of Chinese socialism,” according to the report.
(English) Internet tycoon Yu Jiawen, 24, urges young to be audacious
The Guangdong native created an uproar last month after appearing on the CCTV programme Voice of Youth, where he encouraged his peers to break free from society's expectations and embrace the internet. Wearing a hoodie and lens-free glasses and carrying a big stuffed bear, Yu said the web offered opportunities to the courageous and creative. He was also thinking of handing out 100 million yuan (HK$126 million) in bonuses to his staff next year.
(English) Mobile spending picks up speed
Shopping via mobile phones is fast becoming the main option for spending money in China, with transactions from the not-so-developed western region of the country being the driving force, a report said on Monday. The report, prepared by Alipay, the payment arm of e-commerce giant Alibaba Group Holding Ltd, said more than half of all online payment transactions were made with mobile phones so far this year.
(English) Retail Traditions Hit a Wall at Wal-Mart China
More Chinese consumers are shopping online, which is putting more pressure on Wal-Mart and it's old-fashioned store model
As e-commerce spreads in China, Wal-Mart faces mounting pressure to adjust their business approach as well as update their attitudes. So far, though, the company appears more committed to the physical store business than cyber shopping in China. Wal-Mart China CEO Sean Clarke, who considers himself traditional and an old-fashioned retailer, says real-store shopping is still an important experience for families. Speaking to Caixin, he said e-commerce hasn't seemed to have changed that experience.