China Tech Newsletter – Jan. 13, 2016

Alibaba.com, the global wholesale marketplace of Alibaba Group, will begin providing financing services to SMEs engaged in cross-border trade by partnering with global credit reporting firms and financial institutions including MyBank, the online-only bank of Alibaba Group’s finance arm, and major Chinese banks.

Alibaba.com will launch later this year a credit rating service which takes data generated through the platform into account.


Youku-Tudou announces an incubation program for anime video content, in which it plans to invest RMB500 million (about US$80M) each year.


Gaming company Chukong Technologies plans to launch a VR version of two of its self-developed mobile games, Fishing Joy and Woshi Cheshen, in mid-2016.

Cocos, the game engine business of Chukong, announced today partnerships with Oculus, ARM, Qualcomm and Intel, planning to launched Cocos VR in March.


Didi, the leading ride-hailing company, announces to open its API to all app developers. — TechCrunch


Online video and VR company Baofeng Technology and Qianhai Wutong Mergers and Acquisition Funds have jointly set up a private equity fund, Baofeng Wutong (BFWT), to invest in professionally generated content and intellectual property.


Beijing Enlight Media (SZ:300251), in which Alibaba Group has a stake, announces to acquire 14.5% in ArcVideo, which provides multimedia file transcoding service, for RMB61.5 million (roughly US$9M). ArcVideo was a wholly owned subsidiary of ArcSoft, the photo and video imaging software developer.


Online video site AcFun has reportedly received Series A+ funding from SB China Capital. (via Sina Tech)


Wangjiu, the online wine store majority-owned by LeTV, announces Series A round of funding.

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