Tech China Post #59
688 million people send Chinese New Year hongbao (red envelop containing money) through Wechat’s mobile wallets. Hongbao is sent traditionally from elders to kids in celebration of the new year. (link)
Alibaba has signed a major licensing deal with Disney to stream shows on its Youku video platform. This is the second time Disney is attempting to enter China. With this new licensing deal, Disney is hoping to reach 30 million plus households. (link)
Huawei has launched 5G trial in Vancouver. Huawei is partnering with Telus with trial available in only limited households. 5G wireless service is important for IoT, big data applications, and distributed systems. With standardization of 5G and successful trials, All major Chinese telecom companies will roll out 5G. (link)
Baidu earnings beat analyst estimates with 4Q17 revenue reaching $3.72 billion, a 29% increase compared to the previous year. Its video unit iQiyi is looking to list in the U.S. The highly anticipated IPO is expected to further fuel growth in Baidu’s video advertising business. (link)
