WeChat Payment has had 200 million users and more than 200,000 physical stores supporting it.
Nearly 250,000 pre-orders were placed on Chinese online retail site JD.com 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 JD.com 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.
- Apple to invest, create more jobs in China — Xinhua
- Apple launches new energy programs in China to promote low-carbon manufacturing — ChinaDaily
Tencent has acquired a 3% stake in WiFi solution provider GBCOM, which recently got listed on China’s New OTC market.
TAL Education Group reports second quarter results.