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Danish toymaker Lego is teaming up with Chinese internet giant Tencent Holdings to jointly develop online games and potentially a social network aimed at Chinese children. Privately-owned Lego has seen a slowdown in sales growth in recent years, but the…
JD.com plans to form a JV with online fashion retailer Meili to build and run a commerce platform on Chinese voice-messaging service Weixin. Merchants who sell through the new platform, expected to launch before the Lunar New Year next month, will gain access…
WeChat may soon become an indispensable part of the Chinese citizens after a report emerged claiming that the Tencent-owned messaging app will be used to officially ID people. The Guangzhou government has reportedly initiated a pilot program which creates a…
China’s Tencent plans to acquire a minority stake – some 5% — in offline Chinese retailer Yonghui Stores, as the tech giant looks to explore a physical retail presence in the domestic market. Yonghui said in a filing to the Shanghai stock exchange that the…
Luxury brands have started embracing e-commerce in China, says the Luxury China report released by digital marketing company L2. It says 91 per cent of luxury brands in China had gone online by June last year, more than double the 43 per cent using e-commerce…
Chinese internet giant Tencent has surpassed Facebook in terms of market value just a day after it became the first Asian technology firm to reach the $500 billion valuation mark. Tencent shares hit a record high of 439.6 Hong Kong dollars during Asian…
Asia has been the best performing region globally this year as China 2.0 kicked in as a theme with China (at the MSCI level) being the best performing market and tech being the best performing sector. As Mark Tinker, responsable de AXA IM Framlington Equities…
JD.com profit soared 50 per cent after a 39 per cent increase in sales during the Chinese online retailer’s latest quarter. Its unaudited results for the three months to the end of September show revenue of RMB83.7 billion (US$12.6 billion), with a record…
Marrying social media with mobile gaming has helped Chinese internet giant Tencent Holdings post its fastest revenue growth in seven years for a record profit. It tapped the spending power of about 200 million players, including a solid female representation,…
Tencent Holdings has applied for a licence in Malaysia to offer local payment services via its WeChat Pay, in what would be a first for the platform beyond Mainland China and Hong Kong. If approved, users in Malaysia will be able to link their bank accounts…
Indian e-commerce giant Flipkart has closed a US$1 billion funding round, with plans to raise an equal amount over the next few months. Investors who have contributed to this round include eBay, Microsoft and Tencent Holdings, Bloomberg reports. The funding…
Revenues for Chinese internet value-added services provider Tencent Holdings grew by 48 per cent last year. Total revenues reached RMB151.94 billion (US$21.9 billion), its audited consolidated results show. Tencent’s operating profit was RMB56.117 billion, up…
Chinese technology giant Tencent remains China’s most valuable brand, growing its worth 29 per cent to US$106 billion, according to the BrandZ top 100 most valuable Chinese brands report. It shows that technology brands continued to lead the way, with the…
Speaking today at eTail Asia 2017, a leading platform to help online retailers in Asia build a successful ecommerce business, Ann Wang, General Manager of Performance Advertising Solution, Online Media Group, Tencent, shared insights into China’s unique…
China’s government has issued an order for all app stores on the mainland to be registered. In a notice on its website, the Cyberspace Administration of China says its offices should ensure that records are kept on the country’s many app stores. “Many apps…
Chinese-based online social media platform parent Tencent has opened a Singapore office to help drive Asian brands improve their reach to Chinese consumers. Tencent, which owns the WeChat messaging and browsing platform, has created an International Business…
