Daily Digital Pulse Of China: Baidu, Alibaba, Taobao,

China E-Commerce

Baidu CEO’s Robin Li: “Be Willing to Disrupt Ourselves”

Robin Li, CEO and founder of China’s top search engine Baidu, has expressed his feelings to his employees via an internal email that was sent out today. In the email, Robin Li calls on Baidu employees to think like wolves, to increase investment in innovation, and new businesses, and to be “willing to disrupt ourselves” Outlining the dangers of facing by any large company. It’s clearly a wake-up call in the face of competition from Qihoo’s new search engine, which caused a serious drop in Baidu shares since the new rival came online in mid-August this year.

Source: Tech In Asia

China E-Commerce

China’s Big Online Shopping Event: Bachelor’s Day

What is the hottest word among Chinese netizens these days? It’s the “Bachelor’s Day Promotion”. November 11th has become a special festival during recent years. With four characters of “1”, this date was named as Bachelor’s Day. In 2009, Alibaba held the first Double Eleven Shopping Festival on Taobao.com, storming the online shopping for the very first time. Three years later, with coming 2012’s Bachelor’s Day, more than 10,000 businesses, cooperating with e-commerce sites, are poised to rock the shopping festival again.

Source: China Internet Watch

China E-Commerce

China Online Payment Transaction Scaled 976.4 Billion Yuan in Q3 2012

According to EnfoDesk, the total transaction of China online payment market reached 976.4 billion Yuan (USD156.4 bilion) in the third quarter. The QoQ growth was 13.1% and the YoY growth was 73%. Influenced by National Day holidays and other business trips, online payment transaction for travel booking experienced obvious increase, and some emerging markets like retailing, cross-border trading also kept growing.