Bloomberg Businessweek recently published an article highlighting Tmall’s popularity in China e-commerce, and explaining why Western businesses are so well poised to succeed in this market. Click here for the Bloomberg Businessweek article.
A common corporate structure that has allowed dozens of Chinese companies to get listed on U.S. exchanges is drawing increased scrutiny from American audit regulators.
Chinese Internet companies such as Sina Corp. and Baidu Inc. have used so-called variable interest entities, or VIEs, to work around Chinese restrictions and seek foreign investors since 2000. Now, the Securities and Exchange Commission is also asking questions about the structure, said Paul Boltz, a Hong Kong-based partner at Ropes & Gray LLP, who cited comment letters the agency sent to six companies since December. Judith Burns, an SEC spokeswoman, declined to comment.
American Express Co. (AXP), the biggest credit-card issuer by purchases, will offer an online payment service with Tencent Holdings Ltd. (700) in its first collaboration with an electronic payment partner in China.
The agreement will allow users of Tencent’s Tenpay online payment service to make purchases outside China, American Express and Tencent said in a joint statement today. Financial details were not disclosed.
Alibaba Group Holding Ltd. started its search-engine service last year to cause sleepless nights for Baidu Inc., the industry leader in China, Chief Executive Officer Jack Ma said.
Making life difficult for companies with established positions is what…
Alibaba.com Ltd. , operator of Chinas biggest online commerce site for business owners, will audit all exporters that pay the company to market their products after some buyers were defrauded.
The company will visit the facilities of all paying member…
Innovation Works, the venture capital firm founded by Google Inc. (GOOG)s former China head, said its new fund focused on Internet startups in the Asian nation attracted investors including Ron Conway and Yuri Milner.
The $180 million fund also drew i…
When serial entrepreneur George Ji Wenhong and private equity investor Huang Jin launched luxury goods and fashion clothing online retailer Xiu.com during the global recession in 2008, they relied on word-of-mouth to generate interest. Huang was data-d…
Wal-Mart Stores Inc. appointed Sean Clarke, its Canada finance head, as chief operating officer in China to help oversee expansion two months after the company’s COO and chief financial officer in the country left.
Clarke will be joined by Steve Smith, named chief marketing officer in China, the Bentonville, Arkansas-based chain said in an e-mailed statement today. Smith was formerly a senior vice president at Delhaize Group.