Two Internet Giants Opt For Online Payment Market
On July 6th, Chinese giants Baidu Inc and Sina Corp were granted third party payment licenses from the People’s Bank of China. Baidu and Sina are by no means pioneers in the field as other companies such as Alibaba and Tencent have counted with a third party payment license since 2011. So why are Baidu and Sina latecomers? According to research analyst Zhang Meng, it is because both Baidu and Sina’s online payment sections were never strong, as they did not receive a significant push from neither company’s management. As you may remember, Baidu actually started researching into the payment service back in 2008, however, their interest in the field vanished as their e-commerce business Baidu Youa collapsed.
China Construction Bank’s E-Commerce Platform Prospers
China Construction Bank has launched a pioneering online platform to promote e-commerce. It will provide both business and consumers with a starting point when looking for information about wholesale and retail e-commerce, arbitration, tax returns and audit. The platform, which caters for both B2B and B2C e-commerce, is the first of its kind to be set up by a bank in Mainland China. This latest development is part of a series of measures to increase the bank’s global reach - China Construction Bank is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers to use their ATM card at another bank within the Global ATM Alliance without any overseas transaction charges.
Source: Nanhang Daily
Is it the Beginning of the End for Weibo?
It seems like things do not look too bright for Weibo. This is according to a third-party measuring tool called WieboReach, which tracked the activity of Weibo’s verified and influential users (those with over 10,000 followers). According to the results gathered by WeiboReach, Wiebo users are significantly less active this year. As shown in the displayed graph, Weibo reached its glory in the summer of 2012 when it reached its maximum number of active members. However, since October of the same year its number of active members has decreased significantly. Taking into consideration that WeiboReach only uses a specific sample group of users with over 10,000 followers, it is hard to make concrete conclusion about Weibo’s future.
Source:Huxiu via techinasia.com
The E-Commerce Powerhouse of 2013? – Beijing
China Electronic Commerce Research Centre, the e-commerce research company, has published its annual “China E-Commerce Market Data Report”, which shows that the Chinese e-commerce market received $6.5 billion worth of investment in 2012. Hangzhou accounted for 31% of investment, Beijing for 22%, Nanjing for 20%, and Shanghai for 11%, with the remainder originating in other cities on the Mainland. CECRC reports that the key players in e-commerce in 2012 were Alibaba Group and Jingdong Mall. The national distribution of e-commerce investment projects is as follows: Beijing, 60, Shanghai, 34, Shenzen, 10 Hangzhou, 8, Guangzhou, 7, Nanjing, 4.
Source: Zhejiang Network
JD.com Introduces First Electronic Fapiao to China’s Ecommerce
For years, Chinese B2B ecommerce platforms have only provided consumers with traditional paper fapiao. Recently, however, JD.com announced that it has started to offer the first government-issued electronic receipts in Chinese ecommerce. These electronic receipts are an additional option for clients, who will still be receiving the traditional paper fapiao. Still in its trial period, the electronic fapiao are only accessible to consumers in Beijing and exclusively for the purchase of books and media products. Yet, the company is aiming at expanding their electronic fapiao to cover other sort of goods as well other regions outside Beijing.