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Chinese tech giant Tencent Holdings Ltd launched its first overseas video streaming service in Thailand on Friday, as it ramps up its presence outside China. Tencent is diversifying from its core Chinese gaming business, which has been beset by regulatory…
E-commerce giant Amazon has clinched the top spot in the world’s most valuable brand ranking, surpassing Google and Apple, according to a recently released ranking of global companies. The Seattle-based retailer has been valued at US$315.5 billion, up 52 per…
In China, there is a big culture of ‘practice makes perfect’. As such, school homework is a battlefield not only for Chinese children, but also for their parents, and teachers, who have the task of reviewing assignments. Technology is increasingly lending a…
Chow Tai Fook Jewellery Group has signed a memorandum of understanding with Chinese online platform Tencent to allow jewellery purchases using WeChat Pay. In a move to promote “seamless cross-border intelligent consumption”, the agreement allows Hong Kong…
Macy’s China stopped taking orders on Tmall this week and will close its operations by the end of the month. The US department store business said it chose not to renew the contract with Alibaba’s Tmall which ends on December 31. “We sincerely thank you for…
Social media conglomerate Tencent Holdings is believed to be close to joining a Chinese investment group bidding to acquire Finnish sports goods firm Amer. The consortium, spearheaded by Anta Sports Products, would see Tencent participating as one of a few…
Gaming and chat specialist Tencent has reported a strong third-quarter profit despite ongoing issues with Mainland China regulatory authorities over its gaming software. Tencent’s share price has fallen by about one third this year, shedding US$165 billion…
Chinese consumers are quickly adapting to buying groceries online for immediate delivery from local offline stores, according to a new joint study conducted by JD, Walmart, Tencent and JD Daojia. In China, where over 15% of consumption takes place online,…
Tencent has teamed up with ParknShop and Yonghui Superstores to create a new combined grocery chain ParknShop Yonghui. The joint venture, valued at US$170 million, aims to help Shanghai-listed Yonghui expand its business outside of the southern province of…
Chinese e-commerce company JD is opening its logistics network up to consumers to send parcels around the country, marking the first entry by an e-commerce company into the parcel delivery business. The new JD parcel delivery service announced enables users…
Facing increased challenges from tighter government regulations, the Chinese internet giant, Tencent Holdings, announced last week its first restructuring in six years. The reshuffle comes as Tencent Holdings, which has seen a hefty fall in market value this…
Tencent and Hillhouse Capital have invested RMB1 billion (US$146 million) into fast-growing Chinese discount retailer Miniso. Founded just five years ago, Miniso has already grown to more than 3000 stores worldwide using what it describes as a “high quality,…
China’s Meituan Dianping, an online food delivery-to-ticketing services platform, has set an indicative price range of HK$60 to HK$72 ($7.64-$9.17) per share for its initial public offering (IPO) in Hong Kong, valuing itself at up to $55 billion, four people…
Tencent Holdings has recorded its first quarterly fall in profits in 13 years, hampered by government delays in approving new online games. Second-quarter profit fell 2 per cent to RMB 17.9 billion (US$2.6 billion) on sales totalling RMB 73.7 billion ($10.65…
The Melbourne-based startup announced today a US$80 million series B led by Tencent and Sequoia China and joined by Asia-Pacific investors Hillhouse Capital, Horizons Ventures, Central Capital Ventura, and Square Peg Capital. The deal is believed to be the…
Chinese e-commerce startup Pinduoduo is seeking US$1 billion in a US IPO, going head to head with industry giants such as Alibaba. The company’s business model, in which users recruit friends via social media to enjoy group-discount offers direct from…
