China | Pixr8 News

29Dec By reutersNo Comments

CHINA

Huawei’s China Smartphone Sales Chief Detained For Suspected Bribe-Taking

Huawei Technologies, the world’s third-largest smartphone maker, said on Wednesday that Chinese police are conducting an investigation, after the China sales head of its smartphone unit was detained on suspicion of accepting bribes. Huawei, which in recent years has overtaken Apple Inc and others to take the top share of China’s smartphone market but is now under pressure from fast-growing domestic rivals, declined to disclose details of the case. “The authorities are investigating the matter, and we defer to their discretion as to what can be disclosed,” the company said in e-mailed comments to Reuters when asked about the case. “We take our business ethics extremely seriously, and have zero tolerance for corrupt behavior.” It gave no further comment. In an internal memo to st...

28Dec By reutersNo Comments

CHINA

China Temporarily Exempts Foreign Firms From Taxes For Reinvested Profits

China said on Thursday it will temporarily exempt foreign firms from paying provisional income tax on profits they re-invest into the economy, in a bid to stop foreign firms shifting their operations out of the country. The move will help “promote growth of foreign investment, improve quality of foreign investment and encourage overseas investors to continuously expand their investment in China,” the finance ministry said on its website. Analysts say a planned tax cut by U.S. President Donald Trump, which could lead to a repatriation of earnings by U.S. firms, poses a challenge China’s bid to lure foreign investment. The temporary exemption on provisional income tax is retroactive from Jan. 1 this year, which means firms that have paid taxes this year will be refunded. But fore...

26Dec By reutersNo Comments

CHINA

Pressure Of Debt Piles Up On LeEco’s Jia Yueting, Summoned To China

China’s securities regulator has formally ordered the founder of indebted tech conglomerate LeEco to return to China and sort out a mounting debt pile linked to his firms, ramping up pressure on the head of the embattled entertainment-to-autos group. The Beijing branch of the China Securities Regulatory Commission (CSRC) said in a notice late on Monday that LeEco Chief Executive Jia Yueting must return to China before Dec. 31 to “fulfill his obligation” and protect investors’ rights. LeEco, an entertainment, electronics and electric vehicles group founded by Jia, has struggled to pay its debts after rapid expansion into multiple sectors sparked a cash crunch, a plunge in the shares of a listed unit and led to multiple defaults. The watchdog said it had previously asked Jia to retu...

26Dec By reutersNo Comments

CHINA

China Closes More Than 13,000 Websites In Past Three Years

China has closed more than 13,000 websites since the beginning of 2015 for breaking the law or other rules and the vast majority of people support government efforts to clean up cyberspace, state news agency Xinhua said on Sunday. The government has stepped up already tight controls over the internet since President Xi Jinping took power five years ago, in what critics say is an effort to restrict freedom of speech and prevent criticism of the ruling Communist Party. The government says all countries regulate the internet, and its rules are aimed at ensuring national security and social stability and preventing the spread of pornography and violent content. A report to the on-going session of the standing committee of China’s largely rubber stamp parliament said the authorities ha...

13Dec By reutersNo Comments

CHINA

Google Launching Artificial Intelligence Research Center In China

Alphabet Inc’s Google said on Wednesday it is opening an artificial intelligence (AI) research center in China to target the country’s local talent, even as the U.S. search firm’s products remain blocked in the country. Google said in a statement the research center is the first of its kind in Asia and will comprise a small team operating out of its existing office in Beijing. Chinese policy makers have voiced strong support for AI research and development in the country, but have imposed increasingly strict rules on foreign firms in the past year, including new censorship restrictions. Google’s search engine is banned in the Chinese market along with its app store, email and cloud storage services. China’s cyber regulators say restrictions on foreign media and internet platforms ...

11Dec By RishabhNo Comments

CHINA

Know About World’s Biggest Floating Solar Project In China

The world's biggest 1 billion yuan($151 million) floating solar project in China, has connected to the grid. according to press-statement on December 10. Started by a unit of China Three Gorges Corp., China Three Gorges New Energy Co. the 150MW project started in July, 2017 is located in Panji District, Huainan City, Anhui Province. The plant is situated on a man-made lake which formed after collapsing and flooding a coal mine. The project will have 166,000 solar panels, producing clean energy, in a country that has some of the world's worst air pollution. Coal burnt for power and steel smelting is the principle cause of air pollution in these areas. "The coalmine was very hot and the air was bad. But here I feel safe. The new energy is safe." said a coal-miner. China is now wo...

These 5 Companies Dominate China’s Smartphone Market, Samsung Is Not Among Them!

7Dec By RishabhNo Comments

CHINA, Tech

These 5 Companies Dominate China’s Smartphone Market, Samsung Is Not Among Them!

Chinese market is the most popular smartphone maker and market in the world. China is now the world’s largest smartphone market and continues surging forward as its economy and people ramp up their consumption of things to match their already vast production. Kantar Worldpanel shows that now China's top five phone vendors own the market accounting for 91 percent of the overall market. The top five brands are; Huawei Xiaomi Apple Vivo Oppo That’s up from 79 percent a year earlier, extending a lead that now sees companies like ZTE, Meizu, and Lenovo struggling to find a foothold in their home country. Global smartphone leader Samsung is now at a 2.2 percent share in China and deteriorating, according to Kantar’s Dominic Sunnebo. Each of these companies have selected...

4Dec By reutersNo Comments

CHINA

Apple’s Tim Cook Says Developers Have Earned $17B From China App Store

Apple Inc’s chief executive Tim Cook said developers using its platform in China number 1.8 million and have earned a total 112 billion yuan ($16.93 billion), representing roughly a quarter of total global App Store earnings. Cook shared the data on Sunday during a speech at China’s top public cyber policy forum, organised by the Cybersecurity Administration of China (CAC), which oversees internet regulation including censorship. Earlier this year, Apple said that developers had earned roughly $70 billion in total revenue through the store. Apple is facing criticism from local users and rights groups for bowing to pressure from Beijing cyber regulators after it decided to remove hundreds of apps from its Chinese store this year, including messaging apps and virtual private network (VPN)...

Indian Government Issued Warning Against These 42 Chinese Mobile Applications

1Dec By RishabhNo Comments

News

Indian Government Issued Warning Against These 42 Chinese Mobile Applications

Earlier this week, Indian government as per some reliable inputs has found that these 43 Android and iOS apps developed by Chinese developers are reportedly either "spyware or other malicious ware." A country wide advisory has been sent to all field formations of the Army and paramilitary forces warning of a cyber attack through mobile phones. The advisory comes in the wake of inputs received by the Union Home Ministry from agencies like the R&AW and NTRO. The advisory says, "As per reliable inputs, a number of android/IOS apps developed by Chinese developers or having Chinese links are reportedly either spyware or other malicious ware. Use of these apps by our force personnel can be detrimental to data security having implications on the force and national security." However ...

SoftBank In Talks To Invest $500M In Paytm Mall

28Nov By AdityaNo Comments

FUNDING

SoftBank In Talks To Invest $500M In Paytm Mall

After investing in Indian e-commerce majors Flipkart and Snapdeal, Japanese multinational conglomerate SoftBank Group is now set to invest in another Indian e-commerce space Paytm Mall. It is estimated that Paytm Mall may receive a funding around $500-600 millions in a fresh round. As per the reports, SoftBank will put around $300 million into the e-commerce venture operated by Vijay Shekhar Sharma's Paytm E-commerce Pvt Ltd. Paytm Mall has already received funding from Chinese e-tailing company Alibaba, which now holds a majority stake in the company. Also, SoftBank is one of the investors of One97 Communications, the parent company of Paytm wallet and holds around 20 percent. The telecom conglomerate already holds majority stakes in Snapdeal, which it tried to merge with Flipkar...

23Nov By Press Trust of IndiaNo Comments

CHINA

Users Opting Mobile Payments Exceed 520 Million In China

The number of Chinas mobile wallet users has exceeded 520 million with combined payments of over USD 6 trillion, Chinese e-commerce giant Alibabas financial services affiliate said today. According to the Peoples Bank of China, Chinese banks dealt with 8.6 billion payments from mobile services in the second quarter of this year, up 40.5 per cent from a year ago. The combined value of mobile payments jumped 33.8 per cent to 39.2 trillion yuan (USD six trillion). The growth came as user-friendly platforms such as WeChat Pay encourage online transactions. Also Read Google Will Track Your Location Even When You Turn It Off! In April, Ant Financial, Alibabas financial affiliate which runs the popular Ali Pay -- Chinas leading third-party online payment ...

Tencent Beats Alibaba To $500B Valuation, Overtakes Facebook

21Nov By reutersNo Comments

ANALYSIS

Tencent Beats Alibaba To $500B Valuation, Overtakes Facebook

[dropcap]C[/dropcap]hina’s biggest social network and gaming firm Tencent Holdings, which last week reported forecast-beating quarterly results, is close to making Malaysia the first foreign country to roll out its WeChat ecosystem, an executive told Reuters. Tencent has made a “breakthrough” in gaining an e-payment license in Malaysia for local transactions, and plans a launch early next year, senior vice president S.Y. Lau said in an interview. The move pits Shenzhen-based Tencent against rival Alibaba Group as they scramble for new growth opportunities outside China. Tencent on Tuesday became the first Asian firm to enter the club of companies with a market value of more than $500 billion, surpassing that of Facebook. “Malaysia is actually quite large in the sense that we have ...