Want 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.
Microsoft 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.
Want 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.
Digi 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.
Want 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.
Shanghai 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.
China 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.
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.