Enterprise Innovation — China will lead the Asia-Pacific region in online spending this holiday season with $150 billion in sales forecast, new research from Adobe Digital Index reveals. China’s booming economy has led to the highest anticipated online spend in the region (55 percent), with nearly half of the country’s consumers surveyed (49 percent) predicting an increase in their online spend for the period.
Nasdaq — BEIJING: JD.com, Inc. China’s largest online direct sales company, today announced its unaudited financial results for the quarter ended September 30, 2015. GMV for the third quarter of 2015 was RMB115.0 billion (US$218.1 billion), an increase of 71% compared with the third quarter of 2014. GMV excluding Paipai.com (“Core GMV”) for the third quarter of 2015 increased by 76% year-over-year to RMB111.0 billion (US$17.5 billion).
Tech In Asia — With Singles Day now fully in the rearview mirror, the folks at JD have finally released the company’s final order count, and it’s impressive. Having collected more than 30 million orders over the 24-hour period, JD has more than doubled its 2014 sales record (last year it wound up at 14 million orders). Like Alibaba, JD had a great day for mobile sales. The company says more than 70 percent of its orders came via mobile.
Omni Channel Media — This week on the 11th of the 11th, shoppers spent $14 billion online in China’s ‘Singles’ Day’ online sales. For comparison’s sake, leader US online retailer Amazon did $18 billion in sales in its most recent quarter. In 2009 ecommerce retail monolith, Alibaba, began to market 11th November – which is not a traditional Chinese festival day – as the anti-Valentine’s Day offering discounts and specials. With an online population of 668 million – the world’s largest – Alibaba’s local competitors have embraced Singles’ Day too.
Times of India — BEIJING: China’s online retail sales fired by firms like Alibaba are expected to rise to $1.6 trillion by 2020 emerging as one of the main growth engines for the Chinese economy, a report said. The e-commerce sales will have penetration rate doubling from the 2014 level to 22%, a report by Bain&Company and Alibaba said.
Deal Street Asia — China plans to crack down on the sale of fake goods online by using cloud computing, big data and tighter rules on user identity in its latest moves to quash counterfeiting. China has been trying to reign in its counterfeiters, who have copied everything from Apple iPhones to Louis Vuitton handbags, since it joined the World Trade Organization in 2001 and was required to adhere to global standards on intellectual property rights.
Times of India — SHANGHAI: China plans to crackdown on the sale of fake goods online by using cloud computing, big data and tighter rules on user identity in its latest moves to quash counterfeiting. China has been trying to reign in its counterfeiters, who have copied everything from Apple iPhones to Louis Vuitton handbags, since it joined the World Trade Organization in 2001 and was required to adhere to global standards on intellectual property rights.
Channel News Asia — SHANGHAI: China plans to crack down on the sale of fake goods online by using cloud computing, big data and tighter rules on user identity in its latest moves to quash counterfeiting. China has been trying to reign in its counterfeiters, who have copied everything from Apple iPhones to Louis Vuitton handbags, since it joined the World Trade Organization in 2001 and was required to adhere to global standards on intellectual property rights.
Times of India — BEIJING: China has over taken the US to become the world’s largest online retail market as its e-commerce revenues grossed $439 million last year constituting 7% of its GDP, according to a new report. The internet has become a critical element of China’s economic progress in the past five years, accounting for 7% of the world’s second largest economy’s gross domestic product (GDP) in 2014, a percentage point higher than the US, state-run Global Times reported, citing a report issued by China Internet Network Information Centre (CNNIC).
China Tech News — Liu Qiangdong, founder of JD, said that considering the extensive influence of American brands, products and market, America is the first choice for JD to build its first branch outside Asia. This new R&D center will help American retailers, business partners and various brands to establish and enlarge their influence in China via the shopping platform of JD.
Venture Beat — JD.com, China’s second largest ecommerce company by sales behind leader Alibaba, on Monday announced the opening of its first U.S. office — a research and development center located in Silicon Valley. The focus is expected to be on cloud computing, mobile applications, and big-data infrastructure.
With news this week of malware infesting Apple mobile apps and a new mobile virus infecting Chinese users’ smartphones, more scrutiny is being placed on Chinese technology firms to help protect netizens. Tencent has taken the lead with the announcement of its Thunder Action. This is the company’s special initiative against Internet phishing, pornography, and malicious information.
Business Insider — Some of the most powerful tech leaders got together in Seattle to greet Chinese President Xi Jinping on his visit to the US Wednesday. And based on the group photo tweeted out by Seattle Times reporter Matt Day, it was a star-studded event:
China Tech News — American beverage provider PepsiCo Inc. and Chinese B2C e-commerce website JD.com have reached a strategic cooperation under which PepsiCo will sell its Quaker high-fiber oat dairy drinks in China for the first time on JD.com. This is reportedly the first time for PepsiCo to launch a product debut via an e-commerce platform outside America. Financial terms of the deal were not released.
WSJ — In late April, Jack Ma, the founder of Chinese electronic-commerce company Alibaba Group Holding Ltd., made a personal pitch to Tadashi Yanai, the head of Asia’s largest apparel maker. Fast Retailing Co. had recently started selling its popular Uniqlo line of clothing on Alibaba’s biggest rival site, JD.com, and sales were brisk. If Uniqlo increased its loyalty to Alibaba’s platform, Mr. Ma and his team told Mr. Yanai, Alibaba would drive more traffic and sales to Uniqlo’s shop there, according to people familiar with the discussions.
Want Chinat Tmes — China’s largest online direct sales company, JD.com, on Monday announced launch of a “US Mall,” where Chinese customers can buy authentic products that are imported from the United States. At the launch event held on Monday, JD.com founder and CEO Richard Liu made a special mention that his company will feature authentic products from Taylor Swift, including a line of clothes that the artist is designing exclusively for JD.com customers.
China Topics — InfoQ’s CNUT meeting with technology leaders in China was considered successful after it was attended by big technology companies such as Alibaba, Tencent, Baidu, Huawei, Ctrip, Meituan, JD and other tech companies in the country. The focus of the meeting, which was held in Beijing Babbitt Internet themed tea house, is about the possible effect of container technologies for cloud computing and its local role in domestic distribution.
Many internet enterprises have begun accelerating their expansion into China’s interior since the second half of last year mainly by developing internet and big data businesses in the region, according to Guangzhou’s 21st Century Business Herald. Major e-commerce player Jingdong Mall set up a direct sales channel for agricultural products in Sichuan province, while the country’s two leading internet firms Alibaba and Tencent have ventured into the big data sector.
The Chinese government says it is allowing foreign companies to fully own some e-commerce businesses in the country, as it looks to bolster overseas investment and boost market competition. Effective immediately, the new ruling applied to “online data handling and trade handling services, though, no details were provided on how existing e-commerce operators would be impacted, reported Reuters.
JD.com , China’s second largest e-commerce site, has agreed to invest HK$1.3 billion ($171million) for a 10% stake in Kingdee International Software Group, as the e-commerce powerhouse forays into software businesses. JD.com purchased shares of Hong Kong-listed Kingdee at HK$ 4.60 each, an almost 10% discount to Kingdee’s closing price of HK$5.11 on Friday.