Strong demand for dollars from Chinese companies contributes to decline

Chinese telecom operator China Mobile announced that by the end of January 2015, it had reached over 100 million 4G users. The company also announced that they plan to build one million 4G base stations, develop 250 million users, and sell 200 million devices in 2015. According to China Mobile, their 4G network has realized […]

American game developer Zynga announced that the company will close its office in Beijing. Zynga announced the decision while publishing its performance report for the fourth quarter of 2014. The company said that they will cut the 71 jobs in Beijing office and the related expense of USD7 million will be included in the first […]

Users send 810m cash gifts in a single minute on Lunar New Year’s eve

Chinese sportswear retailer Anta announced its performance for 2014 and said it had net profit of CNY1.7 billion, representing a year-on-year increase of 29%. Anta realized turnover of CNY8.923 billion in 2014, a year-on-year increase of 22.5% and its gross profit was CNY4.027 billion, a year-on-year increase of 32.5%. The company attributed its growth to […]

Witty pays price for falling sales and corruption woes