Want China Times — E-commerce giant Alibaba and internet goliath Tencent have become China’s top two cloud computing service providers but have adopted different approaches to control the field while competing with each other, according to the Beijing-based Economic Observer. The two companies have established dominance in different areas after over a decade in business–Alibaba in e-commerce, logistics and health services and Tencent in games and social networking.
Want China Times — Privately owned Chinese banks will need to use big data if they hope to compete with rivals backed by internet companies in the growingly important online market, according to an executive at business software company SAS. These private banks rely mainly on an “asset-light” business model with fewer brick-and-mortar outlets and a relatively strong focus on online operations, said Irene Xu, practice lead for customer intelligence at SAS North Asia, in an interview with China Entrepreneur.
Want China Times — On July 12, Tencent, a leading Chinese Internet firm, and Shenzhen Huaqiang Holdings, a major hi-tech firm, unveiled a joint 10 billion yuan (US$1.61 billion) plan for fostering hardware startups, with the aim of creating 100 hardware firms with valuation of over 100 million yuan (US$16.1 million) each in three years, according to the Economic Observer.
MIS Asia — Internet Plus will provide the backbone for administrations to create innovative way to develop smart cities, according to Chinese investment holding company, Tencent’s senior executive vice-president, Seng Yee Lau. He was speaking about the future of cities powered by Internet Plus at the recent 2015 Asia-Pacific Cities Summit (APCS) and Mayors’ Forum in Brisbane. Championed by Tencent, Internet Plus is a new concept in China describing the relationship between the Internet and society.
THE music streaming world just got a whole lot more competitive, especially in Malaysia, with a new player joining the ranks of Spotify, Deezer and Raku in an already crowded marketplace. On June 26, Tencent Holdings Ltd introduced Joox, its online music streaming service. Tencent is also the owner and operator of the hugely popular WeChat instant messaging software.
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.
THE technological revolution and the profound changes brought by expanded connectivity will only become relevant when we ‘see’ the actual human face behind the device, according to Tencent Online Media Group (OMG) president S.Y. Lau. “Just as electricity in the Second Industrial Revolution and the steam engine in the First Industrial Revolution, it is the same for the power of the Internet now,” he said.
According to a recent report of the Institute for Information & Communications Technology, the number of hardware manufacturers, including those producing electronic components, semiconductor products and equipment, IT hardware, telecoms equipment, and consumer electronics, is on the decline on the list of the global top 100 IT companies based on market caps, whereas that of software, IT services, and Internet service providers is showing a noticeable increase.
A total of fourteen Chinese brands made their names to the global top 100 brands ranking listed by marketing and brand consultancy Millward Brown with technology the fastest growing category. China now has three technology brands in the top 100, with Tencent and Baidu increasing their brand value by 43 percent and 35 percent from a year ago respectively, faster than global average of 14 percent.
Tencent reportedly invested USD60 million in the acquisition of a 20% stake in Pocket Gems, a start-up mobile game company in America. Tencent will gain one position on the board of directors at Pocket Gems, according to reports in foreign media. Founded in 2009, Pocket Gems is headquartered in San Francisco and the company is supported by Sequoia Capital. Its latest product is War Dragons, which was launched in April 2015. This mobile game uses Pocket Gems’ own 3D graphics technology, aiming to attract hardcore players who are willing to spend more time and money on games.
Like Baidu and Alibaba, Xiaomi is eyeing China’s finance industry and seeing dollar signs. Today the company is officially launching a money-market fund called Huoqibao inside a new standalone app called “Xiaomi Finance.” Like the Alibaba-affiliated Yu’ebao, Xiaomi’s Huoqibao lets consumers save excess cash and earn interest from it. After registering for a Xiaomi Finance account with one’s national ID, users can bind a bank card to the app can store as little as RMB 1 (about US$0.15). The fund is managed by China’s E Fund Management and currently offers an annual return rate of 4.26 percent.
The development of e-commerce on Tencent’s WeChat platform has led to questions about the fate of the social media app used by 500 million people, according to Guangzhou’s Time Weekly. Tencent began allowing commercial activities through WeChat’s “Moments” feature, which offers updates of a user’s online friends, beginning last year. The decision has led to thriving business activities that are plagued by counterfeits, fake products and fraud schemes, with one industry insider calling the development similar to that of Taobao, China’s most popular shopping site owned by e-commerce giant Alibaba.
Chinese anti-virus developer Tencent will lose its certifications after it was found to have submitted products with optimisations designed to improve their ratings in independent third-party testing. Tencent is the second Chinese security vendor to be caught cheating recently. Last week, rival anti-virus developer Qihoo 360 was stripped of its awards after it was found to have submitted products for testing with its default detection engine disabled, instead using BitDefender for improved results.
China’s internet conglomerate Tencent has newly launched its own open-sourced operating system, dubbed Tencent Operating System or TOS+, for a number of smart devices, such as smartphones, smartwatches, game consoles, and virtual reality headsets, aiming to become “China’s Android” for smart hardware products. Technically, TOS+ is also an Android-based operating system, but Tencent aims to make a new standard for all smart devices, as it will be free for use by manufacturers and developers of smart hardware should they agree to share revenue with Tencent, according to the website of Beijing-based Economic Observer.
BEIJING: China’s Tencent Holdings Ltd launched an operating system for internet-connected devices such as TVs and watches that is open to all developers, taking on domestic rivals Alibaba Group Holding Ltd and Xiaomi Inc in the smart hardware space. Tencent Operating System (OS) and TOS+ allow manufacturers and developers to freely use the platform if they agree to share revenue. This model mirrors Google Inc’s Android mobile OS, and could help Tencent replicate the US firm’s conquest of the majority of the world’s smartphones.
Chinese tech giants Baidu, Alibaba and Tencent are likely to become major players in the mobile medical industry in China given their tremendous capital and well-developed platforms, reports our Chinese-language sister newspaper Want Daily. Tencent invested US$70 million in China’s largest medical and health website Dingxiangyuan in September last year, followed by an investment of US$100 million in the leading website used for making hospital appointments in China, Guahaowang, in October last year.
After vying against each other in mobile payment, online retail, and taxi-hailing, Chinese internet giants Tencent and Alibaba have taken their battle to a new field–government smart city initiatives. Several announcements from both Tencent and Alibaba over the past month suggest the two firms are deepening their involvement in local government’s initiatives to improve administrative efficiency and transparency.
Chinese internet giant Tencent has reported progress garnering government support for facial recognition technology to be used for banking services. Tenpay, a Tencent subsidiary for payments, announced a cooperative partnership with the National Citizen Identity Information Center under China’s Ministry of Public Security on Monday. The arrangement will allow Tencent to work with police to improve the accuracy of facial recognition technology so customers won’t need to visit a bank for verification purposes, the firm said.
Chinese internet giant Tencent Holdings hit a market cap of more than US$200 billion for the first time on Monday, making it the second most valuable Chinese internet company after Alibaba. The country’s biggest social networking and online entertainment firm edged up 5.38% to HK$170.5 in trading in Hong Kong on Monday, giving it a market value of US$206 billion.