China Tech Newsletter – Aug. 18, 2015

Screenshots of Ant Fortune App
Screenshots of Ant Fortune App

Ant Financial Services Group, Alibaba’s finance arm, launches Ant Fortune, a mobile app for investment and financial products.

Ant Financial’s Yu’ebao (a money market fund), Zhao Cai Bao (a platform for third-party financial products and services) and mutual funds provided by Fund123 (the online mutual fund market in which Ant Financial has acquired a controlling stake) have been available on the app.

The app will later facilitate stock purchases.


Xiaomi announces to increase revenue share with game developers. Video games and tablet games will get 70% of the revenues and smartphone games will get 50%.


Whaley, the smart TV and online content company founded by Li Ruigang (former president of Shanghai Media Group) earlier this year, unveiled a 55 inch 4K Ultra HD smart TV on August 13th.

It runs Yun OS, the operating system developed by Alibaba. Mr.Li said at the launch event that his startup was backed by both Tencent and Alibaba who’d provide funding or technical support.

Whaley adopts the same pricing strategy as LeTV’s that it charges an annual fee for content. It is sold through its own website and Alibaba Tmall store.


Cheetah Mobile reports 1800% year-over-year growth in overseas revenues. Mobile monthly active users reached 494 million, with 71% from markets outside China.


The Beijing municipal government-backed call taxi service provider Beijing Qihua (aka. 96106) launches its own ride hailing app Feidi Dache. It accepts Alipay, WeChat Payment and cash. (via Jinghua)

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