China Tech Newsletter – May 8, 2015

JD Milk Tea Shop (image credit:
JD Milk Tea Shop (image credit: (NASDAQ:JD) reports first quarter results. The online retailer has led a US$500 million investment in online package tour provider Tuniu (NASDAQ: TOUR).

The company also launched today a “JD Milk Tea” shop where smart devices from the JD+ hardware incubation program or partner products are demonstrated. It’s on the InnoWay in Beijing the Chinese premier Li Keqiang visited yesterday.

Meipai, the short-video sharing app launched by Meitu one year ago, has had 140 million users, with 14 million being daily active.

The app sees some one million video clips uploaded each day and 240 million daily video views. Inc. launches 58 Qianbao (“money locker”), an online marketplace for financial products provided by financial institutions including banks, mutual funds, and peer-to-peer lending sites.

A number of Chinese internet companies, including Alibaba’s Ant Financial, Tencent, Baidu and Weibo, have established online platforms that sell financial products from traditional financial institutions.

An internal email to all employees at ChinaHR confirms that has acquired the online recruitment service. Financial terms were not disclosed. (via Sina Tech)

Yihao Zhuanche, the UberX-like rideshare service of Didi-Kuaidi, launches a financial product by partnering with Dianrong, the Shanghai-based peer-to-peer lending site founded by Lending Club co-founder Soul Htite.

Users of the rideshare app have to register with Dianrong to buy the product. Similar to Yu’ebao of Alipay, users are able to make payments for rides with the balance in their Dianrong accounts.

BitAuto reports first quarter earnings.


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