China’s Internet Economy Can’t Stop Growing
According to latest statistics by iResearch, China’s Internet economy reached 45.67 billion Yuan (approximately 7 billion USD) in the last quarter of 2010. The figure was up 9.9% from Q3 2010. Judging from the data indicators, China’s overall Internet economy achieved fast growth throughout last year. The growth for each quarter was all above 50% […]
Tencent to Invest $760 million in Tech Start-ups
Tencent Inc. has set up a $5 billion yuan (US $760 million) investment fund to invest in technology start-ups. The fund will focus on start-ups like gaming companies, social game, mobile game, e-commerce and new media firms. The fund, as Tencent explained is to “provide support, break through bottlenecks in the development of innovative companies, […]
Alibaba Invests $4 Billion and May Surpass Walmart in Sales
Alibaba Group and its financing partners plan to invest 30 billion yuan ($4.5 billion USD) to build warehouses across China. The reason? Alibaba wants to meet a 10-year goal of delivering any online order in China within eight hours. It’s an ambitious goal. The warehouses will occupy 3 million square meters (560 American football fields) […]