Chinese Internet giant Tencent Holdings Limited announced that it had established Penguin Pictures to lead its movie production effort. Penguin Pictures plans to invest in 10 to 15 movies every year. According to Chinese media reports. Penguin Pictures has already jointly produced and invested in around ten movies, including the Little Door God, an animation […]

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Beijing-based mobile social marketing provider Social Touch has completed US$60 million series D round of financing led by Hong Kong-listed Legend Holdings Corporation. According to a company announcement, Social Touch says it will use the proceeds on product improvement and team expansion. Founded in 2011, Social Touch provides marketing related services including strategy, marketing SaaS, […]

Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.

Over the first seven months of 2015, China's mobile Internet traffic consumption reached 2.02 billion gigabytes, which represented a year-on-year increase of 95.3%. China's Ministry of Industry and Information Technology published these statistics, and further stated that traffic consumption in July 2015 set a new record with 347 million gigabytes. According to the statistics, the […]

The real has been worst-hit currency in the past month