4G Telecommunications Licenses to be Release in China… Soon
Great news for the Chinese Internet users! 4G telecommunications licenses will be available in China by the end of the year. This important step will allow for the acceleration of broadband development in China, thus allowing Chinese to have access to faster Internet. According to MIIT, the government is also aiming to increase the amount of private capital in the telecom market.
E-Commerce is 15% of Chinese GDP
China Electronic Commerce Research Centre reports that the Chinese e-commerce market was worth 7.85 trillion yuan in 2012, an increase of 30% on the previous year, with e-commerce transactions amounting to 6 trillion yuan, an increase of 33%. E-commerce in China is now worth 15% of GDP. Although the market itself is forecast to grow at a slower rate this year, e-commerce will continue to make a substantial contribution to GDP growth (7.5% April-June).
Source: Securities Times
Alibaba’s Report on E-Commerce
Despite China’s economic slowdown, which started last year, Taobao is still king in China, achieving in 2012 a record of 19.1 billion yuan turnover for Single’s Day. Alibaba research Center released an expansive report on e-commerce revealing how the growth of Chinese e-commerce has been responsible for Taobao’s incredible growth in the last 10 years. According to the same source, e-commerce’s growth is far from ceasing anytime soon. Instead, it calls for the digital economy being the world’s new economic growth pole.
Source: Business China
Baidu to Acquire NetDragon’s 91 Wireless for $1.9 billion
Baidu, the largest search engine in China, has acquired 91 Wireless Websoft Limited (“91 Wireless”) from NetDragon, the MMORPG provider. 91 Wireless is one of the largest iOS and Android app distributors in China. Downloads from 91 platforms, including 91 Assistant and HiMarket, exceeded 10 billion and daily downloads reached 15 million in Q1 2013. NetDragon acquired 91 as an iPhone software-managing tool in 2008. HiMarket and Hiapk, an Android app store and Android-related news site, respectively, were later launched in 2011 for expansion to Android market.
China Unicom is to Launch WeChat Subscription Plan
Last week we were mentioning that China’s telecoms was planning on working together with Tencent to come out with a WeChat subscription plan. Now, it seems like we are starting to see confirmation of this. A source from China Unicom has announced the intention of the corporation to offer a plan for 36 RMB that will allow users to use WeChat by the end of the month. However, none of this information has been officially announced by China Unicom.