Apple Pay is to make an official debut in China at 5am this Thursday on February 18, becoming the fifth country for the mobile payment service of Apple Inc. to enter into, according to announcements posted by two Chinese banks in their official Wechat accounts. Apple Pay is entering into a market dominated by two […]

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Over 80% of chief executives among 134 venture-backed Chinese tech start-ups receive no salary or only get minimum living expenses, while senior online game developers make the most with medium annual total compensation of RMB670,087 (US$102,831), according to the results of a compensation study conducted by IDG Capital Partners. Vice president-level sales and marketing professionals […]

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China is scheduled to release January economic data over the next two weeks. The consumer price index is likely to increase 1.9% year-on-year, while credit growth will be strong, Goldman Sachs Gao Hua forecasts in a research report. February consumer price index is likely to be even higher as food prices rose the most towards […]

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China’s exports fell 11.2% year-on-year in January in the seventh straight month of decline, while imports tumbled 18.8%, the 15th month of decline. Both exports and imports came in far worse than expected. Exports declined after China has allowed the RMB to weaken nearly 6% against the U.S. dollar since last August. As a result, […]

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Hong Kong’s property price may drop 10% to 15% this year, after having already fallen a sharp 9.5% since September 2015, says a new research report by Standard & Poor’s. The credit rating agency says that the average home price in Hong Kong is likely to fall 10% to 15% compared to 2015. Transaction volume […]

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Baidu Inc.’s chief executive Robin Li has proposed to acquire the Chinese Internet search firm’s majority stake in online video platform Qiyi.com in a deal giving Qiyi.com an enterprise value of around US$2.8 billion. In a statement issued last Friday, Baidu said Robin Li and Qiyi.com’s chief executive Yu Gong have submitted a non-binding offer […]

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Greater China-focused hedge funds posted their first month of losses since August 2015 and were down 5.98% in January with its long/short equity heavyweight declining 6.24% as Chinese equity markets came under pressure during the month. The loss came in the backdrop of the country’s main CSI 300 stock index declining 21.04% during the month, […]

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Alibaba Group Holding Ltd. has agreed to acquire approximately 4% of South Korea’s entertainment agency S.M. Entertainment for around US$30 million via new share subscriptions, says a company statement. The investment is part of a broader strategic partnership between the two parties. Alibaba’s music division, Ali Music Group, and S.M. Entertainment plan to work together […]

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The Asset Management Association of China (AMAC), a self-regulatory organization for the domestic private investment fund industry, has issued a new set of rules to tighten regulation on the sector. In an official notice issued by the AMAC on February 5, new and stricter rules on fund registration and business operations were explained to the […]

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China will surpass the U.S. in terms of total revenue from app stores by the first half of 2016, having surpassed it in downloads in early 2015, says a new report by mobile app tracker App Annie. In 2016, the global mobile app market is projected to expand 24% to reach US$51 billion in gross […]

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