Gerry's Feed
Feb 14, 2015

China’s economic planners aim to boost service exports

BEIJING (Reuters) – China has set a target of reaching $1 trillion worth of trade in services by the year 2020, according to a newly released economic planning policy paper that emphasized a shift away from the export of goods.

The State Council, China’s cabinet, said in a document released on Saturday that it would provide total policy support to raise the export value of services relative to goods.

Feb 14, 2015

Jackie Chan’s son, freed from jail, apologizes to the public

BEIJING (Reuters) – Jaycee Chan, son of movie star Jackie Chan, began the process of rehabilitating his image on Saturday as he appeared in public for the first time following a six-month jail sentence on drug charges and apologized for his actions.

Speaking softly and wearing a dark-colored suit and collarless shirt, the 32-year-old entertainer told reporters in Beijing he would dedicate his energy toward film and music projects and spend more time with his distraught mother.

Feb 14, 2015

China taxi apps Didi Dache and Kuaidi Dache announce $6 billion tie-up

BEIJING (Reuters) – Didi Dache and Kuaidi Dache, two of China’s leading taxi-hailing apps, said on Saturday they would merge to create one of the world’s largest smartphone-based transport services.

The combined entity would be valued at roughly $6 billion, according to person familiar with the deal. The shareholding structure is unknown.

Feb 14, 2015

China taxi apps Didi Dache and Kuaidi Dache announce tie-up

BEIJING (Reuters) – Didi Dache and Kuaidi Dache, two of China’s leading taxi-hailing apps, said on Saturday they would merge to create one of the world’s largest smartphone-based transport services.

Financial terms were not disclosed. The firms said the two companies, which have not announced a name for the combined entity, would operate independently under separate brands.

Feb 13, 2015

Qualcomm deal sparks China smartphone patent skirmishes

BEIJING (Reuters) – Last summer, lawyers from Chinese telecoms gear maker ZTE Corp began writing to half a dozen local handset makers it believed used its patents. Its message was simple: it’s time to pay up.

ZTE’s efforts to collect patent royalties – months ahead of Qualcomm Inc’s China antitrust settlement this week, according to people with knowledge of the matter – shows how that deal has already changed the way China’s booming smartphone industry does business.

Feb 10, 2015

With antitrust deal done, Qualcomm still faces China challenges

SAN FRANCISCO/BEIJING, Feb 10 (Reuters) – Even after
agreeing to pay a record near-$1 billion fine in China for
antitrust violations, U.S. chipmaker Qualcomm
Inc faces big challenges in its most important market.

As low-cost, low-margin Chinese smartphone manufacturers
such as Xiaomi Inc and Huawei Technologies
push into other developing markets, they are driving down
average handset prices – bad news for San Diego-based Qualcomm,
which collects royalties based on the handset’s value.

Feb 3, 2015

Lenovo quarterly revenue jumps 31 pct, tops expectations

BEIJING, Feb 3 (Reuters) – Lenovo Group Ltd, the
world’s leading PC maker, said on Tuesday its third-quarter
revenue rose 31 percent to $14.1 billion, beating investor
expectations, as its mobile division sales more than doubled
following its acquisition of Motorola.

The results, released before the Hong Kong Stock Exchange
opened Tuesday, sent Lenovo shares 5.7 percent higher in morning
trade to HK$10.76, compared with a 0.36 percent fall on the
broader Hang Seng index.

Jan 30, 2015

China’s new tech rules play to local firms’ strengths

BEIJING/SAN FRANCISCO (Reuters) – Draft Chinese government regulation would force technology vendors to meet stringent security tests before they can sell to China’s banks, an acceleration of efforts to curb the country’s reliance on foreign technology that has drawn a sharp response from U.S. business groups.

But a translation of the proposed rules viewed by Reuters shows its immediate impact on foreign firms may not be as tough as feared.

Jan 30, 2015

Tencent inks exclusive online partnership for NBA games in China

BEIJING (Reuters) – The National Basketball Association and Tencent Holdings Ltd said Friday the Shenzhen-based Internet giant will be the only company in China to stream the league’s online content.

The exclusive, five-year deal will allow Tencent to offer for the first time in China the NBA’s League Pass package, which allows subscribers to watch a full season’s worth of games live and on-demand.

Jan 12, 2015

Exclusive: Facebook, Xiaomi discussed possible investment in the Chinese smartphone maker – sources

HONG KONG/BEIJING (Reuters) – Mark Zuckerberg and Xiaomi Inc CEO Lei Jun discussed a potential investment by Facebook in China’s top smartphone maker ahead of its $1.1 billion fundraising last month, but a deal never materialised, several people with knowledge of the matter told Reuters.

The discussions, at a private dinner when Zuckerberg visited Beijing in October, were never formalised, three of those people said, as the two CEOs weighed the political and commercial implications of Facebook – which has been banned in China since 2009 – buying into the Chinese tech star now valued at $45 billion.