China Tech Newsletter – July 7, 2015

WeChat is about to launch a separate reading app, as reported by The app is jointly developed with Yuewen Group, the e-book publishing company of WeChat parent Tencent.

WeChat’s official account system, which enables multimedia contents to be pushed to subscribers, has become a major publishing platform to Chinese news media and individual writers. Publishers are able to make money by joining the WeChat display ad program or adding the tipping feature which allows readers to send them money via WeChat Payment.

Weibo launches social commerce program Weibo Chuchuang (“Showcase”), by partnering with its shareholder Alibaba and mobile commerce marketplace Weimai.

20 million Weibo Darens, verified popular Weibo users (different from verified celebrities or opinion leaders), will be able to share items from Alibaba marketplaces, Taobao and Tmall, and Weimai to their followers and get transaction-based revenue cuts. (via Sina Tech)

Xiaomi filed several automobile-related patents in March this year, according to the official website of the Chinese State Intellectual Property Office.

Datebao, an online retailer of insurance products and services, announces RMB180 million (about US$29m) Series A round of financing from Ping An Ventures, Fosun and Ce Yuan Ventures. (via Sina Tech)

Ziztour, a business-facing hotel auction service, has raised Series A round of funding led by Legend Capital. (via Sina Tech)

Online game publisher Xianyu Game announces Series A round of funding led by Huayi Brothers Media, with participation from The Arena CapitalGreenwoods Investment and Jijiehao Capital (our translation).

A total of more than RMB100 billion (US$16b) worth of agricultural goods were traded through the internet in 2014, accounting for 3% of the total agricultural trades in China, according to the Chinese Ministry of Agriculture.

There have been some 3000 agricultural e-commerce sites in China. (via Xinhua)


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