Newsflash on Jan 07. 2019

Time: 2019-01-07 09:15:02Source: Digital360; China Daily



Will mobile payment replace cash in China? Some believe so.
More than one-fifth of interviewees believe mobile payment will replace cash, according to a report released by Payment & Clearing Association of China recently.
 
Simple operation, no need to carry cash or bank cards - these are main benefits behind users' choice of mobile payment. About half of users think that mobile payment will coexist with cash, though 23.9 percent believe the latter will be replaced and less than 5 percent think it will not, data from a total of 76,671 valid questionnaires showed.
 
Tech giant Samsung shifts its focus to emerging fields. South Korean technology giant Samsung Electronics Co Ltd is adjusting its strategy in China as it has closed one of its smartphone manufacturing plants in Tianjin and plans to invest $2.4 billion to build new battery and capacitor plants in the city, in order to shore up its business in China.
 
Amazon and Walmart prepare to fight new Indian e‑commerce rules. The newly tightened regulations threaten to pinch Amazon and Walmart’s Flipkart in one of the world’s fastest growing online commerce arenas, where both have invested billions of dollars.
 

Baidu banking on tech for further gains. Chinese internet search giant Baidu Inc has reported revenues exceeding 100 billion yuan ($14.6 billion) for last year, marking a milestone for the company's efforts to accelerate its business growth, and make breakthroughs and innovations, said Robin Li, chairman and CEO of Baidu, in an internal letter on Wednesday.
 

Xiaomi-TCL draw closer with strategic cooperation agreements. Xiaomi Corp bought 65.2 million shares, or 0.48 percent, of consumer electronics giant TCL Corp from the secondary market as of Jan 4, Guangdong-based TCL said in a statement to the Shenzhen Stock Exchange on Sunday.


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