Chinese B2C e-commerce website Dangdang.com published its financial report for the fourth quarter and the entire year of 2012, stating that its total operating revenue increased by 31% year-on-year to CNY1.6 billion in the fourth quarter of 2012; while it made net losses of CNY120 million during the same period.
According to an internal email reportedly sent by Bu Guangqi, chief executive officer of Tencent’s e-commerce subsidiary 51buy.com, the company will implement a structural adjustment, aiming at sales of CNY15 billion to CNY20 billion in 2013.
Chinese B2C e-commerce website Vancl.com announced that it will acquire the apparel e-commerce brand Crucco with an undisclosed amount of cash and equity.
China Mobile, Japan’s NTT DoCoMo, and South Korea’s Korea Telecom announced that the three parties have reached an agreement for a series of mobile phone services, aiming to realize cross-border payment services with the near-field communication function on mobile phones.
Following the launch of its group buying navigation service, Chinese search engine Baidu Inc. has now launched its group buying business T.baidu.com, which is currently only available in Beijing.
Chinese coupon provider Velo and group buying website Didatuan.com announced via internal emails that the two companies have completed a formal integration.
Chinese third-party Internet payment service provider Alipay.com has published its report showing that the mobile payment service developed rapidly in China in 2012 with 546% year-on-year growth by trading value; and the number of people who used this service increased by 223%.
Chinese Internet search engine company Baidu Inc. disappointed investors as it posted its fourth quarter and fiscal year 2012 financial results.
China Internet Network Information Center recently published its 31st Internet survey report, stating that by the end of December 2012, the number of Internet users in China had reached 564 million and the Internet penetration rate was 42.1%, which was 3.8 percentage points higher than 2011.
Chinese B2C e-commerce website 360buy.com held the opening ceremony for its Haidian cloud computing research and development base in Yiyuan Cultural and Creative Industrial Zone, Beijing.
Chinese B2C e-commerce website Vancl.com has signed an investment agreement with Tianjin Jingbin Industrial Park to build its Tianjin headquarters for CNY1 billion.
Chinese real estate portal Soufun.com has officially established a headquarters in Shanghai to support its operation in 15 cities in East China.
Chinese electronics and home appliances retailer Gome’s e-commerce website and the maternal and baby products website Qinqinbaby.com have signed a strategic cooperation agreement to jointly operate a maternal and baby products channel.
Lotte’s duty free store has launched the Chinese-language Internet shopping website, providing convenience to the ever-growing Chinese tourists in South Korea.
Alipay.com, the Internet payment subsidiary of Alibaba Group, confirmed that the company has formally established a new rural business unit, aiming to reach non-e-commerce users in third- and fourth-tier cities as well as in rural areas.
Just in time to halt Christmas consumer joy in China, Google has ended its shopping search service in the country.
Chinese Internet company Tencent’s online payment service Tenpay and American Express have reached cross-border payment cooperation and the two parties have jointly launched a new virtual payment product.
Chinese B2C e-commerce website 360buy.com announced the launch of its new digital music zone, which is the company’s latest digital business following areas covering e-books, e-magazines, and multimedia books.
Chinese B2C e-commerce website Dangdang.com and Alibaba’s B2C Internet shopping site Tmall.com have jointly announced that Dangdang.com has opened a flagship store on Tmall.com, selling books and daily commodities.
Official information from Amazon China confirmed that Wang Hanhua, president and CEO for Amazon China, will depart the company, and Amazon China will find a replacement as soon as possible.
With an eye towards a potential overseas initial public offering, Chinese B2C e-commerce website 360buy.com has started the public beta testing of its English-language website, directly selling products to overseas buyers.
Chinese third-party Internet payment service provider Alipay.com and the health consulting and medical treatment guidance platform 95169.com have reached a deal to provide Internet hospital registration services to users of Alipay.com.
Privately-owned Chinese B2C e-commerce website 360buy.com confirmed that it is developing an open platform advertising system for third parties.
Suning.com, the e-commerce platform of Chinese electronics retailer Suning, announced that it has invested USD66 million to acquire the Chinese e-commerce website for baby and maternity products Redbaby.com.cn.
Chinese B2C e-commerce website 360buy.com has formally started cooperating with the convenience store provider Good Neighbors to offer pick-up service in 13 Good Neighbors convenience stores in Beijing, covering Xicheng district and part of Haidian district.
Suning.com, the e-commerce platform of Chinese electronics and home appliances retailer Suning, revealed that they will launch a new nationwide group discount buying service this week.
Blizzard Entertainment and NetEase.com, the operator for World of Warcraft in mainland China, have jointly announced that Mists of Pandaria, the fourth expansion of World of Warcraft, will open in mainland China on October 2, 2012, realizing global synchronization for the first time.
China’s Ministry of Commerce has drafted the “Network Retailing Management Approach”, which will cover more than 40 guidance items surrounding e-commerce activities in China.
