Tencent, Baidu, and Alibaba: the Emerging Dominant Triad of China's Internet Kingdom
After over ten years' development, China's internet industry has only developed a few mature business models, such as advertising, online gaming, and e-commerce. However, these portal giants are now gradually being replaced by new comers such as Tencent, Baidu, and Alibaba, in terms of market value, income, and influence, only maintaining their positions in online gaming.
U.S.-China Air Traffic Faces Head Winds
Only a few months ago, U.S. airlines were hungering for the China market, especially during the Olympic games. Whereas "Open Skies" is still a dream for many travelers who want economic benefits from air competition, financial realities and the impending slowdown after the Olympics suggest that U.S.-China air travel is facing head winds and reduced expectations for increased competition.
A Challenge to Sohu's Beijing Olympic Web Ad Exclusivity
In November, 2005, Sohu, a NASDAQ-listed Chinese on-line portal, search engine and services provider, was granted exclusive rights to construct, operate and host the official Beijing Olympics website by CCTV, China's national state broadcaster. But just a few days ago, on July 11, in a stunning turnaround, CCTV also authorized Sohu's domestic rivals, Sina, NetEase and Tencent, to join in the fun. The decision is a victory for an industry alliance formed by three major online portals to challenge the dominant Sohu.
China's Aerospace Industry: For Now More Friend Than Foe
Globalization creates a two-lane path for developing countries to learn new technology and for advanced countries to save on production costs. But in the duopolized aerospace industry where Boeing and Airbus can seal off their core technology, China has many mountains to climb.
Lenovo Leaps Into Fortune 500 Club
Many Chinese companies dream of becoming big in the world's markets, symbolized by a 500 listing. Haier was the first domestic non-monopoly consumer company to get near, coming closest when its income was only $200 million below the world's 500th company. Another Chinese major, Huawei, has just released its financial report for 2007, according to which the company's annual income was $12.5 billion, still some distance from the top 500 list.
Jack Ma Yun Vows Taobao Will Overtake Wal-Mart
After engineering the Alibaba miracle, legendary Chinese entrepreneur Jack Ma Yun is moving on. In his ambition to develop Alibaba into an all-mighty Internet empire, Taobao, Alibaba's online shopping subsidiary, aspires to exceed world giant Wal-Mart in ten years.
Foreign Laid-offs May Fill Gaps in Chinese Pilots Ranks
Due especially to increasing international oil prices, many US airlines have recently begun to reduce the number of their flights and lay off employees, including pilots, offering emerging markets such as China great recruitment opportunities.
Focus Media Wireless Business Losing Money and People
Focus Media has lost nearly $79 million in its wireless business and has recently dismissed over 200 staff in departments including marketing, media research, 3G, cooperation and business expansion, among others.
Iron Ore Price Hike to Swallow Chinese Steel Producers' Profit
China imports about 250 million tons of iron ore from Brazil, Australia, South Africa, and Canada -- prices are set in long-term contracts. With the 65% price hike that is about to come into place, iron ore prices will increase by $33 to $34 per ton, and the total production cost of China's steel industry will increase by at least $8.4 billion annually (60 billion Yuan). Presently, total annual profit of large and medium-sized Chinese steel companies with long-term supply contract hovers around 140 billion Yuan.
Gome and Sunning Under Investigation for Tax Evasion
Chinese tax departments are investigating China's two largest appliance retailers. Although the aim of the investigation is still unknown, the investigation itself is reminding fast developing Chinese retailing companies that they must regularize their taxation procedures.
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