In Episode 29 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma talk about China’s version of “Black Friday,” the biggest ecommerce shopping festival of the year which Alibaba invented out of thin air in 2008 and now falls yearly on November 11.
In Ep. 27 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma discuss the latest scandal to come out of Chinese internet — fake reviews on one of China’s leading travel websites, Mafengwo. Mafengwo had $1.5 billion in sales last year, 63k transactions, and over 100 million monthly active users.
In Ep. 26 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma discuss Koubei, rounding up the second installment of a two-part deep-dive into the local services space in China. An Alibaba subsidiary, Koubei recently merged with ele.me, another Alibaba-owned (via acquisition) entity which was covered in Ep. 25 last week.
JD Group announced that it has raised $2.5 billion by selling stake in JD Logistics. After the transaction completes, JD Group will hold 81.4 percent of JD Logistics equity.
Revenue in China’s catering industry exceeded 3.9 trillion yuan in 2017. The Chinese take-away market alone topped 300 billion yuan.
French President Macron is on a state visit to China. Under his witness, JD.com group signed memorandums of understanding with Business France and the French industrial engineering group Fives.
Idlefish is teaming with 50 organizations, including CACE (China Association of Circular Economy), Igooma, Youdemai, Aihuishou, Huishoubao, Yxianypin, Yueren, Souche, Zhima Credit and Ant Forest, in a movement toward an “idle-free society.”
Tencent, JD.com and Vipshop announced that Tencent and JD.com would invest US $863 million in Vipshop. After investment, JD.com is making a leap toward its goal of “selling clothes on JD.com”.
Xiaomi’s CEO Lei Jun announced that Youpin, once belonging to Xiaomi Internet of Things (MIoT) team, will become an independent e-commerce department in an internal letter on the night of December 12.
JD.com logistics CEO Wang Zhen-hui said at 2017 NewGen Logistics World Summit on December 11 that due to consumption, industrial upgrades and technological advancements, the logistics industry is entering a new era defined by short chains, smartness and symbiosis.
Wang Hua, managing partner of Sinovation Ventures, analyzed the opportunity for future investment in China based on population structure and consumer behavior data released at the Foresee 2018 Investment Trend Conference, held by Sinovation Ventures.