Daily Digital Pulse Of China: Alibaba, SNS, ZTE

China E-Commerce

Yahoo’s Jacqueline Reses Takes Seat on Alibaba Board

China’s biggest e-commerce company, Alibaba, has just announced that Yahoo’s Jacqueline Reses has joined Alibaba Group’s board of directors. After this summer’s partial stake buy-back by the Chinese firm, Yahoo still owns approximately 23 percent of Alibaba. Founder, Jack Ma said in today’s announcement: “This underscores Alibaba’s strong relationship with Yahoo. We are pleased to welcome such an experienced and respected executive like Jackie, who brings a wealth of strategic insight and operating experience to the Alibaba board.”

Source: Tech In Asia

China E-Commerce

China’s Professional Social Networking Users to Reach 100 Million

According to, there are more than 70 million users on China’s professional social networking sites by the end of Nov 2012. The number of users has increased by 250% compared with 20 million last year. Professional SNS like Dajie, Tianji, Ruoling, who started early, have more than 10 million users registered while those late comers – Ushi, Binzhi, Renhe – gained 1,000,000 users and are targeting 5 million.

Source: China Internet Watch

China E-Commerce

ZTE Closes $20 Billion Financing Deal

Chinese telecom and mobile firm ZTE announced yesterday that it has signed a five-year $20 billion financing agreement with China Development Bank. This is the third round of financing between the two companies, as similar agreements were previously made by the companies in 2005 and 2009. With this massive round of fundraising, governments from several countries will be keeping a close eye on ZTE and its next step.

Source: Tech In Asia

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