Tag: china


E-House revenue boosted by online advertising and e-commerce

E-House revenue boosted by online advertising and e-commerce

China’s real-estate market has warmed up since November of last year and the first quarter of this year saw a significant growth, according to Zhou Xin, CEO of real-estate services company E-House (China) Holdings Ltd.He was speaking in a telephone conference held recently to announce his company’s financial results in the first quarter.Its total revenue was $116.6 millio


SouFun reports a good quarter, prepares to expand its e-commerce

SouFun reports a good quarter, prepares to expand its e-commerce

Despite a challenging year in 2012, SouFun Holdings, operator of China’s leading real estate portal, has had a good first quarter, mainly due to its e-commerce business. The firm has decided to step up this business outside the tier-one cities where it has been most successful up to now.Total revenue grew to $91 million U.S. in the first quarter, representing almost a 56 percent increase compa


SouFun: Chairman Mo under attack from short seller

SouFun: Chairman Mo under attack from short seller

SouFun Holdings, owner and operator of one of the leading Chinese real-estate portals, has hit back at allegations made by a U.S. short seller that its founder and chairman has diverted resources from the company for personal use through a series of questionable transactions.Glaucus Research Group claimed in a report “SouFun While It Lasted,” issued on April 4, that Vincent Mo Tianquan was res


Alibaba Group appoints new CEO to Replace Jack Ma

Alibaba Group appoints new CEO to Replace Jack Ma

Chinese e-commerce conglomerate Alibaba Group has appointed Group Executive Vice President Jonathan Lu Zhaoxi as its new CEO, succeeding the group’s founder Jack Ma Yun. Ma announced on Jan. 15 that he was stepping down as CEO to make room for a younger generation of leaders. The news comes at a time when the Hangzhou-based company is believed to be preparing an initial public offering that is pro


EBay returns to China market with luxury goods site

EBay returns to China market with luxury goods site

BY DON GASPEREBay is staging a comeback in China through a strategic partnership with a local firm, it was announced on Nov. 12.The global auction and shopping site pulled out of the domestic market in 2006, shutting down its EBay Eachnet website after conceding that it had lost the battle for the mainland to Alibaba Group’s Taobao online shopping platform. Since then i


China’s Shanda to spin off advertising subsidiary

China’s Shanda to spin off advertising subsidiary

China’s Shanda Interactive Entertainment is planning to spin off its advertising arm as a separate company, Shanda’s vice president Dr. Zhu Jing revealed recently. Shanda is an online media provider andChina’s third-biggest online games operator and developer.According to a report in China’s 21st Century Business Herald, Zhu said that Shanda had decided in November 2011 to spin off



Alibaba prepared for market volatility

By DON GASPERAlibaba.com, the China-based firm that is the biggest business-to-business e-commerce services provider in the world, has warned that market turmoil experienced in the third quarter of the year is likely to continue. However, it says it is determined to continue focusing on upgrading its business model.In a filing lodged with the Hong Kong stock exchang



China’s Sina buys stake in Web-video firm

By Don Gasper Sina Corp., operator of one of China’s major Internet portals, has upped the ante in the mainland’s social-media industry as it seeks to increase its advertising revenue from video content...This content is available free to Classified Intelligence Report clients. Wan



Alibaba hopes for improved relationship with Yahoo as company targets EBay and Baidu

By Don GasperHANGZHOU, China -- The imposing venue of the Zhejiang Great Hall of the People in the eastern Chinese city of Hangzhou provided the backdrop in early September for Alibaba Group chairman and CEO Jack Ma to speak of his company’s relationship with one of its major shareholders and throw down the gauntlet to the company’s rivals...<


51job profit up 53 percent

51job profit up 53 percent

By DON GASPER51job Inc., the Shanghai-based provider of recruitment and human resource services in China, has reported that its profits in the second quarter grew by more than 53 percent on the back of increased revenue. As a result of favourable market circumstances, the company’s online business continues to grow, even though its print advertising has declined...



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