China

Alibaba Faces Criticism from Regulators in China for Illegal Business on its Websites

Alibaba Faces Criticism from Regulators in China for Illegal Business on its Websites Alibaba Group Holding Ltd. faced severe criticism from a Chinese regulator which accused the e-commerce company of failing to clean up the illegal business transactions which carries on through its online platform.

Alibaba’s Founder Jack Ma Speaks at the World Economic Forum

Alibaba’s Founder Jack Ma Speaks at the World Economic ForumOn Friday, Jack Ma, the founder of Alibaba Group, spoke about his confidence on the economy of China. He expressed his thoughts at Davos, Switzerland, while attending the World Economic Forum.

Xiaomi Corp of China to Invest HK$527 million in Kingsoft

Xiaomi Corp of China to Invest HK$527 million in Kingsoft In December, Xiaomi Corp, the Chinese smartphone maker had raised $1.1 billion in funding and is putting it to good use now. The company will acquire a 3% stake in Kingsoft Corp., which is a software making firm. Kingsoft based in Beijing is a maker of productivity software which is quite similar to Microsoft Corp.

China Bans Uber-Style Taxi Apps Nationwide Citing Passenger Safety Concerns

China Bans Uber-Style Taxi Apps Nationwide Citing Passenger Safety ConcernsReports say that the Ministry of Transport in China has announced a ban for a nationwide use of the taxi apps for private cars that were styles in the lines of Uber. The ministry cited the reason as concerns for passenger safety.

Official manufacturing PMI in China Slips Further in December

Official manufacturing PMI in China Slips Further in December The manufacturing sector of China is not flashing a rosy picture and the soft performance in December suggests that the country will probably miss its target for economic growth in 2014.

Xiaomi to Invests 1.27 billion Yuan in Midea, a Home Appliance Manufacturing Company

Xiaomi to Invests 1.27 billion Yuan in Midea, a Home Appliance Manufacturing CompanyXiaomi Inc. the four year-old smartphone maker from China plans to invest approximately 1.27 billion yuan to buy a small stake in Midea Group, which is a maker of home appliances in China. The announcement in this regard was made by both the companies on Sunday in a joint statement.

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