China Tech Newsletter – Oct 21-23, 2015

wechatdailyactiveuersWeChat daily active users on average reached 570 million in September, a 64% year-over-year growth, the company disclosed today at its annual global partner conference.

WeChat Payment has had 200 million users and more than 200,000 physical stores supporting it.

Hong Kong-based REX Global Entertainment Holdings Ltd. purchases 64.9 % of Russian smartphone maker Yota Devices. — ChinaDaily

Misfit launched its second-gen product Shine 2 in Beijing. — The Beijinger

Nearly 250,000 pre-orders were placed on Chinese online retail site within 6 hours since launch, according to Sonny Vu, founder and CEO of Misfit.

About one third of Misfit Shines were sold in China, according to Vu. A total of more than one million units were sold in the fourth quarter of 2014. (source in Chinese)

Misfit received funding from Xiaomi and in late 2014.

WeChat Payment started charging a 0.1% fee on monthly money transfers in excess of RMB20,000 ( about US$3200) from October 17th.

Chinese banks have been charging fees for all transfers between WeChat accounts, according to WeChat. (via Beijing Business Today)

Apple’s Tim Cook is visiting China. He visited a Chinese mobile app startup on Wednesday and will attend the opening of the 25th Apple retail store in greater China this weekend.


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