China Tech Newsletter – July 15, 2015

Huami Smart Chip for Xiaomi-Lining Shoes (image credit:
Huami Smart Chip for Xiaomi-Lining Shoes (image credit:

Xiaomi’s affiliate Huami, the maker of activity tracker Mi Band, unveils two pairs of “smart running shoes” together with Chinese sportswear company Li-Ning.

Huami Smart Chip (our translation) inside the sole is able to track steps, measure running speeds, among other things. If you have an account with the fitness app by Xiaomi, data collected by the shoes will be synced to your account.

The shoes will retail at RMB199 (US$32) and RMB399 (US$64), respectively. They’ll go on sale on July 28 on the two companies’ online stores.

Alibaba Music Group (our translation) was announced today. Chinese veteran musician-entrepreneurs Song Ke and Gao Xiaosong were named CEO and Chairman of the Board, respectively.

Alibaba Group now owns music streaming services Xiami and TTpod it acquired in 2013.

China online retail sales grew 39% year-over-year to RMB1646 billion (US$265b) in the first half of 2015, according to the National Bureau of Statistics of PRC.

84% were from physical goods sales and the rest from virtual items. Food expenditures account for 46% of the total physical goods sales and apparel purchases contributed 30%.

In 2014 China’s digital publishing market reached RMB339 billion (about US$55b) in sales, a 33% year-over-year growth, according to the State Administration of Press, Publication, Radio, Film and Television of PRC. That accounts for 17% of the total sales generated by the press and publication industry. (via Xinhuanet)

Trusted Doctors, a platform that connects doctors and patients, announces RMB200 million (US$32m) Series B funding led by Fountainvest Partners and joined by returning investors Sequoia Capital and Lightspeed China Partners.

It has had 130,000 doctors on its platform since its launch ten months ago, according to the company. Its rivals include well-funded Chunyu Doctor , Haodaifu and Tencent-backed DXY.

Recipe site Xiachufang announces US$30 million in Series B round of financing led by China Growth Capital with participation from and existing investors, Ce Yuan Ventures and TBP.

Starting with a user-generated recipe platform in 2011, Xiachufang launched earlier this year an online marketplace for good ingredients and cookware. Its platform has had more than 5 million registered users and over 350,000 recipes.

“Hundreds of sellers”, including Walmart’s Sam’s Club, have set up stores on its marketplace and daily orders have reached 10,000, according to the company. plans to set up a store on it.

The company also publishes cooking books and organize cooking shows by partnering video sites.

Online fashion retailer YOHO! announces US$100 million Series D round of financing led by Fortune Capital with participation from China Media Capital, Telescope and existing investors, Vertex Venture Holdings and SAIF Partners. (via Sina Tech)

The leading group-buying service Meituan is acquiring travel search engine Kuxun for less than US$100 million from TripAdvisor. (via Caijing)

Co-Founders of Wal-Mart’s Chinese E-Commerce Venture to Leave. — The Wall Street Journal.


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