Alibaba bought the video-services Youku-Tudou, a mash of Youtube and Netflix, but at least ten times bigger, tells business analyst Shaun Rein in Bloomberg. It is a sign competition between internet giants in China is heating up, and Alibaba first want to strengthen its position there, before taking the rest of the world serious, Rein says.
Wang Jianlin, chairman of the China Wanda Group, tops the 2015 Hurun Property Wealth List, with 120 billion yuan (US$18.9 billion) in real estate. Property tycoon have been doing really well, says Hurun founder Rupert Hoogewerf in the China Daily, despite the relative drop in China´s growth.
While the global financial markets got all jumpy on China, author Joel Backaler, of China Goes West: Everything You Need to Know About Chinese Companies Going Global, toured meetings with Chinese executives. He did not encounter a sense of panic, he writes on LinkedIn, there is an effect on outbound investments.
Eyebrows were raised when China’s food delivery service Ele.me last week announced it raised funds worth US$630 million, while in reality it was less than US$400 million. Startup expert William Bao Bean was not amazed. China´s startups are very competitive, and cheating on figures is part of that, he told VentureBeat.