drawing-on-its Archives

Hon Hai, Tencent partner in electric car business

March 23, 2015 creative alibaba-group, contract, core-profit, drawing-on-its, foxconn, headquarters, internet, largest, nascent-market, optimal, skrill, smart-electric, the-biggest, tucheng

Taiwan's Hon Hai Precision Industry Co Ltd on Monday said it has partnered Chinese social networker Tencent Holdings Ltd to develop opportunities related to electric vehicles, marking the latest tech foray into “smart” cars. Hon Hai, WeChat operator Tencent and luxury car dealer China Harmony Auto Holding Ltd signed an agreement to work together in the Chinese city of Zhengzhou, Henan province, the contract manufacturer said without detailing specifics. The partnership would put Tencent on a par with online peers Alibaba Group Holding Ltd and Baidu Inc, which have already moved into the nascent market for Internet-connected cars vie tie-ups with major auto makers

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China to reap Alibaba windfall as tightens up on tax

March 23, 2015 publisher cebit, china, core-profit, drawing-on-its, identity, largest, michelle-price, nascent-market, optimal, smart-electric

By Michelle Price HONG KONG (Reuters) – China could make billions of dollars from taxing gains made by employees of e-commerce giant Alibaba Group who are free to sell their shares for the first time since its IPO, as the country tightens up its leaky mechanisms for tax collection. On Wednesday, a six-month lock-up period for the recently New York-listed stock expired, allowing insiders who bought 437 million shares prior to the IPO to sell their stock, though 100 million of them are subject to trading restrictions that apply to employees until the company reports results in May