(Reuters) – Baidu Inc (BIDU.O: Quote, Profile, Research, Stock Buzz), China’s leading Internet search company, set off alarm bells on Wall Street after a disappointing second-quarter revenue forecast raised doubts on its growth prospects and knocked down its shares more than 10 percent after hours.
The tepid outlook from Baidu, which had consistently blown past investors’ expectations thus far, brought up questions on whether emerging competition from the likes of Alibaba Group would wear it down and if it could make a success of recent moves into other lucrative Internet sectors such as ecommerce.
SHANGHAI/HONG KONG (Reuters) – China’s hot Internet sector is facing a problem it is unaccustomed to: a lack of money.
The world’s largest Internet market, with nearly half a billion users, gave birth to some of the world’s most vibrant Internet firms, such as Baidu Inc and Tencent Holdings. Venture capitalists bankrolled them, making knockout returns after the firms’ successful U.S. listings in the mid- to latter half of the previous decade.
SHANGHAI/HONG KONG, April 23 (Reuters) – China’s hot
Internet sector is facing a problem it is unaccustomed to: a
lack of money.
The world’s largest Internet market, with nearly half a
billion users, gave birth to some of the world’s most vibrant
Internet firms, such as Baidu Inc and Tencent Holdings
. Venture capitalists bankrolled them, making knockout
returns after the firms’ successful U.S. listings in the mid- to
latter half of the previous decade.
SHANGHAI, March 30 (Reuters) – It is a marriage made in
heaven for shopping addicts. Social shopping, the merger of
social networking and e-commerce which has hooked millions of
users in the United States, has now captured the attention of
China’s Internet giant.
Alibaba Group’s social shopping platform Fa Xian (),
launched on a testing basis four weeks ago, is already luring
60,000 viewers a day.
SHANGHAI (Reuters) – New real-identity rules to be imposed on China’s Weibo are likely to make the country’s most popular microblogging platform more alluring to advertisers, as Sina Corp seeks to start generating revenue from its product later this year.
On Friday, Beijing-based users on Weibo will need to be registered with their real identities in order to post online. Other major cities, such as Shanghai and Guangzhou, are expected to adopt similar rules.
SHANGHAI (Reuters) – Some Chinese Internet users have this week been able to access blocked websites such as YouTube, Facebook and Twitter, relishing the newfound freedom although the reason for the breach in China’s Great Firewall of censorship was a mystery.
China blocks most foreign social networking sites (SNS) out of fear that unfettered access would lead to instability. Chinese SNS firms have filled the void by offering similar products that censor topics the government may find sensitive.
SHANGHAI (Reuters) – France’s Accor SA, Europe’s largest hotelier, aims to open 100 hotels in China in the next 2-3 years, the chairman and chief operating officer of Accor Asia Pacific, told Reuters on Tuesday.
Michael Issenberg was speaking on the sidelines of a news conference in Shanghai, where the company launched a customised Mercure brand for the Chinese market.
Feb 27 (Reuters) – China’s Sina Corp said
government regulations forcing users of its Weibo microblogging
platform to register their real names, coupled with new
investments for the popular site, will hurt its profits for this
Sina posted a quarterly profit on Monday in line with
analyst estimates, but forecast a disappointing first quarter,
sending its shares down 4 percent in after-market trade.
SHANGHAI (Reuters) – Chinese handset maker Xiaomi Technology is looking to raise more funds within the next year or two to boost production and sees revenue in the future coming from software applications rather than handset sales, the firm’s president told Reuters on Monday.
Xiaomi, whose name literally means millet but refers to a revolutionary idiom from the early days of the Chinese Communist Party, was founded in 2010 with a focus on becoming a mobile Internet company.
Feb 27 (Reuters) – Chinese Internet users taking
advantage of temporary access to Google Inc’s social
networking site, Google+, have flooded U.S. President Barack
Obama’s page on the site with calls for greater freedom in the
world’s most populous country.
“Oppose censorship, oppose the Great Firewall of China!” one
user posted, one of hundreds of comments in Chinese or by people
with Chinese names that dominated the site over the weekend.