An industry source revealed recently that China Telecom (NYSE: CHA; 0728.HK) is preparing to spin off its eight vertical service bases for operation as independent companies - after which the bases' employees will no longer be formally part of China Telecom's organization. Read More...
Ye Lingwei, GM of China Mobile's (NYSE: CHL; 0941.HK) M2M (Internet of Things) base, said recently that China Mobile had invested RMB 1 bln in the vertical service base since it was established - primarily for cloud product R&D including smart home furnishings, smart transportation products, municipal administration products, and municipal security solutions. Read More...
Beijing Business Today, 3/20/12
An industry source reported yesterday that B2C clothing website Vancl has cancelled its IPO plans, and that the company's CFO has resigned. Read More...
Sina Tech, 3/20/12
A number of Dangdang (NYSE: DANG) customers complained recently that their accounts on the Chinese B2C e-commerce site had been hacked, and their account balances stolen. Read More...
NetEase Tech, 3/20/12
Jason Jiang, CEO of Chinese digital media and Internet advertising operator Focus Media (Nasdaq: FMCN), stated in the Q4 2011 earnings call that its "Q-card" discount card has more than 2.5 mln registered users, and that Focus Media will introduce the "Q-card" mobile phone client in the second half of the year. Read More...
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