Displaying items by tag: tencent

In August this year, WeBank announced that its lending product “Wei Li Dai” (WeChat Loan) has exceeded RMB100 billion (USD14.7 billion).

Published in China Banking Research

Hike messenger, a popular phone messaging service app in India, has recently decided to introduce payment services on its platform. 

A few days ago, the upstart Chinese manufacturer of android-based smartphones Xiaomi launched a public beta of their new online money-market fund. With Chinese tech companies furiously investing in and creating platforms bundling key products and services together, could we see Xiaomi competing directly with Alipay and Wechat in the near future?

Published in China Banking Research

On December 12th, Webank, the proposed bank from Tencent received regulatory approval to start operations. 

Published in China Banking Research

With Alibaba in the US for a one-week road show before what might be the biggest tech IPO that we've ever seen, Alibaba's competitors are battening down the hatches for an extended battle for the face of e-commerce in China.

The latest payment report released by PBOC shows that in 2014Q1, electronic payments kept a steady growth with the most eye-catching performance being from mobile payments.

The latest financials from Tencent Group shows that overall growth stayed strong in the first quarter of 2014 as revenue hit RMB 18.4 billion, 78% of which were value-added services. E-commerce however suffered as revenues declined 24% as compared to Q4 2013. Tencent indicated that the lagging performance was a seasonal factor; in addition Tencent has recently re-focused its e-commerce strategy.  

As known, Tencent setup a partnership with Jingdong this year, acquiring 15% of the online retailer which also holds QQ wanggou and Paipai. The acquisiton is an indication that Tencent is serious about e-commerce, but they still seem to be searching for the right business model. Yet with Alibaba listing soon, Tencent will have to show rapid returns on their investment in order to keep a increasingly impatient set of investors happy. Tencent's e-commerce challenges must now be confronted to stay ahead of the game.

 

20140515 TencentQ1Financials

The latest figures from online saving funds financial statements have shown that the BAT (Baidu, Alibaba, Tencent) online money funds continued expanding. The 2014Q1 data reveals that Tianghong Zenglibao, relying on the huge client base of Yuebao, lead the market and is the first online saving funds that exceeds RMB100 Billion.

In recent years China's mobile internet has been developing quickly and had a great impact on people’s lives. The official figures show that by the end of 2013, China had approximately 500 million mobile internet users, a 25% increase over 2012. With the penetration of smartphones in China more users prefer to use mobile devices to deal with many daily tasks. 

Published in China Banking Research
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