WeBank app released but yet to offer loan service Weilidai

ChinaWant China Times — WeBank, China’s first internet-based bank, has released an app which allows users to open a bank account with their existing WeChat or QQ accounts, reports the Shanghai-based Xinmin Evening News. After choosing one of the accounts, the bank registration process is fairly similar to any other bank account, requiring a name, ID card number, smartphone number, password and swipe lock pattern.


When one app rules them all: The case of WeChat and mobile in China

China.gifTech In Asia — This post is all about WeChat, but it’s also about more than just WeChat. While seemingly just a messaging app, WeChat is actually more of a portal, a platform, and even a mobile operating system depending on how you look at it. Much has been written about WeChat in the context of messaging app trends, but few outside of China really understand how it works — and how it can pull off what for many companies (and countries) is still a far-off vision of a world managed entirely through our smartphones.


Microsoft brings Chinese personal assistant to WeChat

China.gifMicrosoft launched its intelligent personal assistant “XiaoIce” on Tencent’s WeChat Thursday with plans for business use to compete with rivals like Apple’s Siri and Google Now. XiaoIce, a virtual personal assistant that Microsoft says was developed by its Beijing research team is accessible on Tencent’s instant messenger WeChat as Microsoft expands its offerings on mobile internet platforms.


Cloud computing in China may surpass developed countries

ChinaWant China Times — Since early this year, China has been pursuing an “Internet Plus” action plan focusing especially on cloud computing. Early this year, the State Council unveiled an opinion about promoting cloud computing, expecting China to have built up several internationally competitive cloud computing enterprises that have controlled key cloud computing technologies by 2020, China Economic Net reports.


China market: China Mobile to launch own-brand smart wireless routers

ChinaDigi Times — China Mobile will launch own-brand smart wireless routers in the China market, with the device positioned as the center of home-use IoT applications for security surveillance, environmental monitoring, automatic control of appliances and healthcare services in the future, according to industry sources. China Mobile will soon hold an open-bid to select the ODM to produce 10,000 units, the sources said.


With China funding, messaging app Kik joins unicorns

ChinaBusiness Times — SAN FRANCISCO: Canada-based smartphone messaging application Kik said on Tuesday it raised US$50 million from Chinese Internet giant Tencent, saying the two firms have a “shared vision.” The funding vaults the firm launched by University of Waterloo students into the so-called “unicorn” club of startups with valuations over US$1 billion, according to a Kik statement.


China Media Capital launches internet TV

ChinaWant China Times — China’s internet TV craze has just attracted another convert with the debut of Whaley TV on Aug. 13. “Whaley TV envisions becoming a platform for promoting Chinese culture” said Li Ruigang, founder and chair of Whaley Technology, which runs the new internet TV division, according to Tencent’s tech news web portal.


Tencent’s net profit up 25% on big leap in ad revenue

ChinaShanghai Daily — TENCENT said yesterday that its second-quarter net profit rose 25 percent year on year to 7.31 billion yuan (US$1.1 billion) on strong income growth in the online gaming and advertising sectors. Revenue in the April-June period increased 19 percent from last year to 23.4 billion yuan, the company said in a stock market filing. Revenue from online advertising in the quarter surged 97 percent to 4.1 billion yuan, driven by a steep increase in subscribers to the company’s online video services, and a spike in revenue from mobile-based advertising.


Tencent Makes USD90 Million Sick Investment In India

IndiaChina Tech News — China-based Tencent led the USD90 million investment in Practo, a health and medical information provider in India. On the completion of the investments, Practo’s total financing amount will reportedly reach USD124 million and its investors include Google Capital, Sofina, Sequoia Capital, Altimeter Capital, Matrix Partners, and Russian billionaire Yuri Milner.


Portal combat: Alibaba and Tencent do battle over cloud computing

ChinaWant 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.


Chinese banks getting in position for big data banking

China.gifWant 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.


Tencent and Huaqiang launch plan to foster hardware startups

ChinaWant 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.


Internet Plus will enable and encourage the rise of smart cities: Tencent

ChinaMIS 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.


WeChat’s Tencent enters music-streaming fray with Joox, from KL

MalaysiaTHE 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 Cloud Computing: InfoQ China Creates Container Technology Hub

ChinaChina 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.


Digital tech? It’s about people, says Tencent OMG’s SY Lau

ChinaTHE 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.


Global Software Industry Poised to Outweigh Hardware Sector Next Year, from Korea

KoreaAccording 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.


Tencent may have to quit Taiwan if WeChat unauthorized

TaiwanChinese internet giant Tencent’s subsidiary in Taiwan will face screening by the country’s Investment Commission on whether its current operating business meets the range of previous approval, and could be ordered to divest if it violates the rules, our sister paper Want Daily reports. The commission said on June 8 that Tencent’s subsidiary applied as a mainland Chinese investor but the application did not cover its WeChat messaging business. If it is engaged in commercial activities in an area for which it had not applied, it could face a penalty or even required to leave Taiwan.


More Chinese firms on global top 100 brands list

China.gifA 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.


China’s Tencent Invests In Another American Mobile Game Firm

ChinaTencent 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.