Daily Brief

August 16, 2017

TODAY’S TOP FIVE CAN’T-MISS STORIES

  • 1

    Tencent's Mix of Games, WeChat Drives Best Growth in 7 Years

    The Chinese internet giant posted its fastest revenue growth in seven years and a record profit that surpassed estimates by 35 percent, thanks to its marquee hack-and-slash title Honour of Kings. “Mobile games revenue grew fast, benefiting from titles like Honour of Kings,” said Li Yujie, an analyst with RHB Research Institute Sdn in Hong Kong. “Advertising business also topped our expectations and grew at a healthy speed.” Read more on Bloomberg

  • 2

    China's biggest mobile payment solutions are taking root in U.S. and Europe

    On the electronic payment front, there are some strong reasons to embrace the electronic payment systems Chinese consumers are already using. In China, the traditional wallet has been replaced by an electronic wallet on a smartphone. It’s common to make all of your payments for daily needs through that smartphone, using one of two main electronic payment providers: WeChat Pay or Alipay. WeChat Pay is part of the WeChat messaging family, owned by Tencent, and Alipay is affiliated with Alibaba. Read more on Forbes

  • 3

    Alipay and Yelp partner to help Chinese travelers discover local experiences abroad

    Alipay, one of the world’s leading digital payment platforms, and Yelp Inc., the company that connects consumers with great local businesses, have partnered to bring Yelp’s local content to millions of Chinese travelers directly within Alipay’s mobile lifestyle app. With today’s beta launch, any of Alipay’s more than 520 million users visiting New York City, Los Angeles, Las Vegas and San Francisco can now easily discover, plan, make reservations and share authentic experiences at any local business using Yelp’s rich content. Additional cities and countries will be added in 2017. Read more on Payment Week

  • 4

    Why luxury brands turn to China’s online marketplaces

    The apparent turnaround from the brands underscores the reality that the Chinese e-retail market is so massive that they cannot afford to take lightly of, albeit the challenges that continue to exist. Read more on South China Morning Post

  • 5

    News from China: Credit system Hua Bei becomes the new consumer symbol for the post-90s generation

    The new subway campaign from Huabei featuring young celebrities voicing their dreams is a refreshing one. Positioned to create an “enjoy-first-then-pay” shopping experience, Ant Financial's credit system Huabei is favored by many Chinese millennials, according to the latest data from Ant Financial. For every three members of the post-90s generation, there is one Huabei user. Read more on BrandVista

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