Tech China Post #84

Exxon Mobil Corp is investing in additional infrastructure in order to capture opportunities in China. Expecting increasing demand from China for liquefied natural gas, Exxon Mobil is investing to expand output in Papua New Guinea and Mozambique and opening up its first import and storage hub in China. (link)

Baidu led the latest financing in NetEase Cloud Music, China’s fourth-largest online music streaming app behind Kugou Music, QQ Music, and Kuwo Music. Baidu and NetEase will collaborate on content, copyright and traffic sharing to drive more mobile content. (link)

GGV Capital, one of the earliest investors in Alibaba, has raised $1.88 billion to fund technology startups in U.S. and China. The fund has 6 partners and made a number of successful bets in the consumer space. (link)

WeChat’s digital wallet WeChat Pay, with over 800 million active users, is expanding its cross-border payment business in the U.S. for Chinese tourists. Chinese tourists can now shop at U.S. retailers using the digital wallets directly connected with their domestic bank accounts. Digital gifting platform Swych, Travelex, and WeChat jointly launched the offering. (link)