5 Must-Read Tech Stories in China This Week

C. Custer
1:00 pm on Nov 18, 2012

Thanksgiving is coming (for our American readers). And while for the rest of you, next Thursday is just going to be a Thursday, I hope we all can remember to feel thankful for interesting tech news in China. I know I will. Here’s this week’s helping:

1. Tmall and Taobao See $3 Billion in Sales During China’s 24-Hour Online Shopfest

Alibaba had a pretty good day this past Singles Day, bringing in over $3 billion through Taobao and Tmall alone. Turns out there’s nothing like big discounts to bring out the online shoppers, especially on a holiday where singles are being encouraged by advertising to fill the void in their lives with a plethora of consumer electronics and other goods.

2. Confirmed: China’s 360Buy Pulls in $400 Million in Series D Funding

But whoa, not so fast there Alibaba! Sure, Alibaba may have brought in a few billion in a one-day sale, but 360Buy just netted a $400 million investment, and that’s pretty good too. China’s e-commerce war rages on.

3. Xiaomi Announces Set-Top Box for Streaming Web Video on TV

We knew this was coming, but now we’ve got specs and launch dates and everything. Xiaomi’s set-top box is real, and it’s really cheap, too. But will consumers care?

4. China Establishes State-Run Telecom/Internet Company

Well, this whole internet thing was fun while it lasted. China’s government is establishing a state-run company that it hopes will soon control your broadband, mobile, and cable TV connections, all in the name of “breaking the monopoly” of China’s current telecom players. This is not a good sign.

5. Sina Reveals Q3 Financials, Announces Weibo has Passed 400 Million Registered Users

And if you’re keeping track of the milestones as they go by, Sina Weibo now has 400 million registered users. Who knows what percentage of those users are actually active, of course, but it’s still a pretty impressive number.

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