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Net profit slipped 57.5 percent to 650.2 million yuan, while revenue declined 6.4 percent to 8.9 million yuan.

Observers said more local brands will be added to the government procurement list in coming years to fill the void left by overseas competitors such as IBM, Microsoft and Cisco Systems.

people asked whether coupons provided by the two firms are accepted by both sides and whether the subsidies will be reduced or cut completely as a monopoly develops in the taxi-hailing service sector

Alipay has no advantages in social media, compared with WeChat, which claims a monthly active user base of more than 450 million, said analysts

Uber sleepwalked into a perfect storm. Whether it is because of ignorance, or a bull-headed zeal for disruptive innovation, Uber sidestepped regulatory and tax laws that now threaten to reshape its business model in India.

Taobao's decision escalates tension between the platform and the State Administration for Industry and Commerce.

A survey conducted between August and October revealed that 54 out of 92 items purchased from online shopping sites were authentic.

After about 60 Chinese Internet stock sales in the US since 2000, including 12 IPOs last year, the biggest names in e-commerce, search, travel and social networking have already listed, leaving fewer nascent firms ready to go public

Industry experts, however, do not anticipate much gain for the Chinese company from the project due to high costs, labor shortages and environmental issues.

The government will cut export tariffs on coal, including thermal coal and coking coal, from the current 10 percent to 3 percent starting from Jan 1. The new measures are expected to benefit domestic coal producers, the sources said.

After conquering small screens on personal computers and mobile devices, Baidu, Alibaba and Tencent are now moving to the big screen

About a month ago, Lei pledged to invest $1 billion to build a video content development business from scratch. The company also launched a free cloud storage service less than two years ago. It supports basic mobile services similar to Apple's iCloud

The carrier has started to provide "unique personalized content to customers" based on basic information about the customer and even weaving in tailor-made information or commercials.

In 2012, Wanda bought US cinema chain AMC Entertainment Holdings Inc for $2.6 billion, including about $2 billion in assumed debt. The deal was the largest overseas acquisition by a privately-held Chinese firm

as some Chinese investors have experienced losses with other financial products, a growing number are becoming more passionate about investing in wine instead

Online sales on Alibaba's Tmall.com, Taobao.com and its overseas outlets, such as AliExpress, topped 57.1 billion yuan ($9.34 billion) as of 11:30 pm Tuesday, beating Tmall and Taobao's combined 2013 Singles' Day sales of 36.2 billion yuan

The company has launched an emergency plan to deal with it. It has formed a team of legal experts and will "resort to legal means to safeguard the legal rights of the company

Lenovo must continuously roll out products that appeal strongly to Chinese buyers in function and price to maintain its market share in the country.

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