China Tech Newsletter – Jan. 28, 2016

As of the end of 2015, China’s 4G users reached 386 million, up from 97 million in the previous year, according to the 2015 stats released by the Ministry of Industry and Technology Information (MIIT). Mobile phone users were 1.3 billion.

Smartphone shipments totalled 457 million, an increase of 18%.

IoT device users reached 97 million, an 83% growth.

Households with fixed broadband connection were 213 million. Mobile broadband subscribers were 785 million.

Alibaba reports results for the quarter ended in December 2015.

Annual active buyers on Alibaba’s China retail marketplaces reached 407 million. Mobile monthly active users in December reached 393 million.

Koubei, the local services platform, generated RMB15.8 billion (US$2.4 billion) in gross merchandize volume transacted through Alipay in the quarter, with daily transactions averaging more than 5 million in December.

Alibaba is selling its stake in Meituan-Dianping, a direct competitor to Koubei, for US$900 million. — The Wall Street Journal

In 2015 Xiaomi’s internet services generated US$564 million in revenue, a 150% increase. — Reuters

Tencent’s WeBank is raising about US$450 million at an valuation of US$5.5 billion. — Bloomberg

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