China Tech Newsletter – Nov. 16, 2015

Alipay, the online payment service of Alibaba’s finance arm, announced to cut payment processing rates. The lowest will be 0.6%. (via Sina Tech)

Tsinghua Unigroup announced to invest US$47 billion in chip making over the next five years. — Reuters reports 71% year-over-year growth in gross merchandize volume. Annual active consumers increased 59% year-over year to 132 million.

RMB118 billion (roughly US$19bn) in life insurance premiums was generated online, representing 6% of the total premiums from China’s life insurance sector, in the first nine months of this year. (via

As of 2014, online shoppers in rural China were 77 million, up 41% from previous year, according to the Chinese Ministry of Commerce. That’s 43% of the total rural internet users.

The total e-commerce spending by Chinese rural consumers were RMB180 billion (roughly US$29bn), with a year-over-year increase of over 60%. (via Sina Tech)

GoPro will build a content platform for China. — China Daily

51job has acquired two recruitment sites, and Zhiding.


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