China Tech Newsletter – Mar. 31, 2016

Digital Invoice Generated through WeChat
Digital Invoice Generated through WeChat

WeChat launches the long-awaited solution for digital Fapiao (general invoice or special VAT invoice), supported by tax authorities, for purchases on its platform. Invoices will be saved in the digital coupon organizer within the app.

In late 2015 WeChat unveiled a digital receipt solution that was available then for purchases with online retailer and at gas stations.

Yu’E Bao, the money market fund tailor-designed for Alipay users, had RMB620.7 billion (US$96B) under management as of the end of 2015, according to Tianhong Asset Managemnt, the mutual fund company which manages Ye’E Bao fund.

Net profit decreased RMB873 million (US$135M) to RMB23.1 billion (US$3.6B).

Alibaba Pictures Group saw 49% of the total revenue in 2015 from YKSE (aka. Yueke), the leading cinema management software and ticketing app developer Alibaba acquired in April 2015.

The company recored RMB264 million (US$49.6M) in total revenue and RMB25 million (US$4M) in operating loss.

Xishanju, the game affiliate of Xiaomi, and video streaming service iQiyi announce strategic partnership on original content production.


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