China | Pixr8 News

24May By Press Trust of IndiaNo Comments

CHINA

China Apprehensive of Tim Cook’s Plans For India: Chinese Media

As Apple CEO Tim Cook spoke of plans to expand manufacturing operations in India, China apprehends that it could lead to possible exodus of Apple production chain and loss of tens of thousands of jobs, Chinese state-run media said. "It seems the time has come for China to consider whether it is ready for the possible exodus of Apple Inc's production chain," an article in Global Times said, referring to Cook's comments during his India tour. Cook had discussed with Prime Minister Narendra Modi the "possibilities of manufacturing". "Cook shared Apple Inc's future plans for India. He spoke of the possibilities of manufacturing and retailing in India. He appreciated the breadth of young talent in India and said the youth have significant skills which Apple would like to tap," an offic...

Chinas Tiens Group to Enter Indian E-commerce Market

22May By Press Trust of IndiaNo Comments

News

Chinas Tiens Group to Enter Indian E-commerce Market

China Tiens Group plans to foray into the fast growing Indian e-commerce market to take on the likes of Flipkart and Amazon as the firm plans to set up its marketplace by the second half of the year. The group also plans to expand direct selling business in the country and expand user base to one crore over the next five years. "We plan to sell 3,000 products from the online shopping platform, which would be ready in the second half of the year. Indian customers will be able to buy products from different countries on the platform," Tiens South Asia Region President Kevin Hou told PTI. The Indian e-commerce market is estimated to touch USD 119 billion (Rs 8 lakh crore) by 2020. In March, the government allowed 100 per cent foreign direct investment (FDI) in online retail of goods an...

Why Did Apple Invest $1billion in Didi (China)?

18May By NitishNo Comments

Story

Why Did Apple Invest $1billion in Didi (China)?

From last 2-3 days, we were discussing a topic daily in our team meeting that Why Apple invested $1Billion in Chinese Taxi aggregator Didi xihuang? Why an iPhone maker company changes its strategy? Is this a master stroke from Apple to convince chinese government that they are not US based company only? Or Apple wants to show chinese people that they are ready to invests on chinese people on the theory of "if you care about us, we care about you"? Or A Gameplan from chinese government to show the world that how world's most innovative smartphone company depended heavily on China? Yesterday, I was watching a youtube video of Jack Ma (Alibaba founder) speech in Harward university, where he said that at business point both country's China and America should support and mai...

Amazon to Soon Allow Chinese Merchants Sell Goods in 185 countries, Regions

16May By Press Trust of IndiaNo Comments

CHINA

Amazon to Soon Allow Chinese Merchants Sell Goods in 185 countries, Regions

Chinese merchants will soon be able to sell their goods in 185 countries and regions through e-commerce giant Amazon's online marketplace, state media reported today. Amazon signed a deal with a cross-border e-commerce pilot zone in Hangzhou, east China's Zhejiang Province, to let traders use its site to sell to its 285-million active paying customers worldwide. Amazon's global logistic network will deliver goods from China to 185 countries and regions, state-run Xinhua news agency reported. Cross-border sales account for nearly one fourth of total revenue from third party merchants in Amazon's global marketplaces. The number of Chinese traders there doubled in first quarter from a year ago. Zhejiang province is looking to cross-border e-commerce to shore up trade, which shed 0...

13May By reutersNo Comments

FUNDING

Apple Invests $1 Billion in Chinese Ride-Hailing Service Didi Chuxing

Apple Inc said on Thursday it has invested $1 billion in Chinese ride-hailing service Didi Chuxing, a move that Apple Chief Executive Tim Cook said would help the company better understand the critical Chinese market. The tech giant's rare investment gives it a stake in two burgeoning waves of technology - the sharing economy and car technology - as the iPhone business that propelled it to record profitability shows signs of maturing. Apple is trying to reinvigorate sales in China, where it has come under greater pressure from regulators, and Cook is traveling to the country this month. The move aligns Apple with Uber Technologies Inc's chief rival in China, as automakers and technology companies forge new alliances and make cross investments. General Motors, for example, recently...

Alibaba’s Revenue Rises 39 percent As More Shoppers Buy Online

5May By reutersNo Comments

CHINA

Alibaba’s Revenue Rises 39 percent As More Shoppers Buy Online

Alibaba Group Holding Ltd, China's biggest e-commerce company, said fourth-quarter revenue rose 39 percent, beating Wall Street estimates, helped by growth in gross merchandise volume. The company's American Depository shares were up 3.5 percent at $78.48 on Thursday. Revenue rose to 24.2 billion yuan ($3.7 billion) in the quarter ended March 31 from 17.4 billion yuan a year earlier, beating the average analyst estimate of 23.22 billion yuan. "Whatever they are doing must be working, and most importantly it's a sign that the Chinese consumer may not be weakening quite yet," said Gil Luria of Wedbush Securities. Gross merchandise volume (GMV), or the total value of goods transacted on its platforms on China retail marketplaces, rose 24 percent to 742 billion yuan. "Alibaba represent...

Uber Users Can Soon Pay For Rides Abroad Using Paytm & Alipay Wallet

3May By AnkitaNo Comments

News

Uber Users Can Soon Pay For Rides Abroad Using Paytm & Alipay Wallet

Digital payments firm Paytm will enable Uber users to pay for their rides in Indian currency while travelling abroad using its mobile wallet by month-end. Alibaba-backed Paytm will not charge any fees for conversion and the fares will be based on current forex rates. Currently, Indian users need a credit card to pay for Uber rides taken aboard. "We will enable users to pay for their rides in Indian currency while they travel abroad. The integration process is on and should be live by month-end... Users will be able to pay in Indian rupees based on current forex rates," Paytm CEO Vijay Shekhar Sharma said. Uber today announced a partnership with AliPay -- Alibabas online payment solution in China -- to enable users to use AliPays mobile wallet and pay in Chinese Renminbi (RMB) while...

I Sold My Entire Apple Stake Because of China – Billionaire Carl Icahn

30Apr By reutersNo Comments

Entrepreneurs Talk

I Sold My Entire Apple Stake Because of China – Billionaire Carl Icahn

Billionaire activist investor Carl Icahn said Thursday he had sold his entire stake in Apple Inc, citing the risk of China's influence on the stock. Icahn, in an interview with cable television network CNBC, also said he was "still very cautious" on the U.S. stock market and there would be a "day of reckoning" unless there was some sort of fiscal stimulus. Icahn had been a huge cheerleader of Apple, acquiring a stake in the company almost three years ago, repeatedly calling the investment a "no brainer." In an open letter to Apple Chief Executive Officer Tim Cook in May 2015, Icahn had argued that shares of the iPhone maker were worth $240, about 90 percent more than they had been trading. At $240 a share, Apple's market cap would be $1.4 trillion, Icahn asserted. But Icahn, wh...

India bans import of milk, some mobile phones from China

25Apr By Press Trust of IndiaNo Comments

News

India bans import of milk, some mobile phones from China

India has banned import of milk and milk products, certain mobile phones and a few other items from China after finding them sub-standard or not following security codes. Commerce Minister Nirmala Sitharaman said in Lok Sabha that India banned import of milk and milk products from China as their quality was unacceptable. Sitharaman said some mobile phones, which do not carry International Mobile Station Equipment Identity number or other security features, and some steel products have also been banned from importing from China. "Complete ban of import from any country is not possible now due to WTO rules even if we have problems diplomatically, territorially or militarily," she said. The Minister said India's trade deficit with China stood at $48.68 billion (nearly Rs 32.4 lakh...

Beijing Based LeEco Launches Driverless Electric Concept Supercar

21Apr By AnkitaNo Comments

CHINA

Beijing Based LeEco Launches Driverless Electric Concept Supercar

Chinese technology company LeEco today unveiled what it claimed to be the world's first driverless electric concept supercar. The company, which has an aggressive strategy for Indian smartphone space, also launched three smartphones, Le 2, Le 2 Pro and Le Max 2, and two premium televisions Le Super 4X50 and Pro/X50. The LeSEE supercar encompasses a unique internet design, with a large and flamboyant LED screen. The car works on the idea of "inter-connection" and offers fully-automatic driving functions. It can also learn on its own with facial recognition, emotion recognition, system recognition and path recognition. The company did not share details of the car with regard to commercial launch, time and money invested in developing and price tag, among others. All it said was it w...

18Apr By AnkitaNo Comments

CHINA

China’s First Driverless Cars Complete Long-Distance Road Test

Two self-driving cars on Saturday afternoon wrapped up a 2,000-km (1,240 miles) journey in China's first long-distance road test for autonomous vehicles. The vehicles, produced by Chang'an Automobile, left the southwestern metropolis of Chongqing on Tuesday and arrived at Beijing at about 5 p.m. Saturday. The cars successfully drove distance from other vehicles, changed lanes, overtook and performed other maneuvers including three-point turns automatically but still need the help of a driver in certain road sections and gas stations, the designers said. The maximum speed of the cars reached 120 kilometers per hour. Tan Benhong, deputy director of the Chang'an Automobile Engineering & Research Institute, said they would improve the technologies based on the results of the test a...

6Mar By AdityaNo Comments

CHINA

China Shuts Down 28,000 Websites in National Crackdown

Fifteen million illegal publications were confiscated and 28,000 websites deemed pornographic or featuring other illegal content were shut down in China in 2015. It's not only Chinese websites that are being targeted, China is banning access to certain websites on the internet in the same way that Google currently does to websites they believe to infringe on copyright laws, these include websites like sexfreehd xxx that are pornographic but are still completely legal in the USA and many other countries around the globe, however, China deems them to be inappropriate and have therefore banned access to them on the Chinese internet. The figures were announced by the National Office Against Pornographic and Illegal Publications on Friday, reviewing its achievements. The campaign against...