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


JD.com 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 Southcn.com)


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, yingjiesheng.com and Zhiding.

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