Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<br />
<a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a> has changed its business model, yet again. This time by introducing services. It now has segments like flight and bus ticket bookings, hotel reservations and food ordering through partnerships with <a href="http://www.businessinsider.in/searchresult.cms?query=Zomato&amp;sortorder=effectivedate">Zomato</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Cleartrip&amp;sortorder=effectivedate">Cleartrip</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=UrbanClap&amp;sortorder=effectivedate">UrbanClap</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=RedBus&amp;sortorder=effectivedate">RedBus</a>.<br />
<br /> At a time when <keyword id="35621" type="UNKNOWN" weightage="60" keywordseo="e-commerce">e-commerce</keyword> majors are struggling with fresh funding and rift with sellers, this all-in-one business model is reminiscent of China’s <a href="http://www.businessinsider.in/searchresult.cms?query=Dianping&amp;sortorder=effectivedate">Dianping</a>, an online portal that offers almost everything from shopping, online reservations, food delivery, and e-coupons, among others.<br />
<br /> <keyword id="2189133" type="UNKNOWN" weightage="60" keywordseo="Dianping">Dianping</keyword> is currently one of China’s most popular restaurant-review and group-buying services. Valued at a solid $4.05 billion, this Shanghai-based startup founded in 2003 is a bit of Yelp and Groupon. <br /> Co-founder Zhang Tao launched Dianping in 2003 after he earned his M.B.A. from the University of Pennsylvania’s <keyword id="6442384" type="ORGANIZATION" weightage="60" keywordseo="Wharton-School">Wharton School</keyword>. Interestingly, <keyword id="541988" type="COMPANY" weightage="80" keywordseo="SnapDeal">Snapdeal</keyword> co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=Kunal+Bahl&amp;sortorder=effectivedate">Kunal Bahl</a> is a ​Wharton alumni as well.<br />
<br />
<a href="http://www.businessinsider.in/searchresult.cms?query=Dianping&amp;sortorder=effectivedate">Dianping</a> was founded a year after Yelp, which was founded in 2004. Currently, Dianping has over 190 million monthly active users and more than 60 million reviews of restaurants and other local businesses. Its services cover over 12 million local businesses in about 2,300 cities across China.<br />
<br />
India has an untapped services industry as well. "Online services is an industry potentially worth $100 billion by 2020 and is poised to play a huge role in driving habit commerce in India. The introduction of services on <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a> is a big leap forward in catering to nearly all the consumption needs of our customers," <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a> co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=Rohit+Bansal&amp;sortorder=effectivedate">Rohit Bansal</a> recently said.<br />
<br />
"We will continue to add leading service providers from other categories in our journey to offer a single point access to the widest range of services. We are confident that the introduction of services on <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a> will bring us closer to our goal of 20 million daily transacting users by 2020," Bansal added.<br />
<br />
After acquiring mobile recharge platform FreeCharge back in April 2015 for an estimated $ 500 million, <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a> launched recharges and bill payments in March this year. The company claims it has done over a million transactions in a month.<br />
<br />
In a recent study by Red Seer Consulting, <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a>’s market share fell from 21-23% in 2015. This has allowed other players to grow. While this is sure to boost the online traffic to Snapdeal’s app, it will also allow for more diverse ways of monetization including native advertising.<br />

Snapdeal may be trying to become India’s Dianping

<ul><li><strong>A <keyword id="24349" type="COMPANY" weightage="60" keywordseo="Hong-Kong">Hong Kong</keyword> media stock rose over 1,000%, as pro-democracy activists piled into the company's shares in support of its arrested founder, <keyword id="1401857" type="PERSON" weightage="60" keywordseo="Jimmy-Lai">Jimmy Lai</keyword>.</strong></li><li><strong>Shares of Lai's firm, Next Digital, were the third-most traded in Hong Kong <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> on Tuesday after tech giant Tencent and web-based retailer Meituan Dianping. </strong></li><li><strong>The firm's flagship newspaper, Apple Daily Hong Kong, increased printing of its copies to 550,000 from 70,000 driven by an "overwhelming response" by people who lined up to buy it after Lai's arrest. </strong></li><li><strong>As an expression of solidarity, activists are finding new ways to protest against the <keyword id="1244470" type="ORGANIZATION" weightage="60" keywordseo="National-Security-Law">national security law</keyword> that undermines Hong Kong's freedoms.</strong></li><li><strong><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</strong></li></ul><p>A Hong Kong media stock jumped by more than 1,000%, after its staunch pro-democracy founder Jimmy Lai became the <a href="https://www.businessinsider.com/hong-kong-police-arrest-jimmy-lai-under-national-security-law-2020-8?r=US&amp;IR=TIR=T">highest-profile arrest</a> under the Chinese government's new draconian security law. </p><p>Shares of Lai's media firm, <a href="https://markets.businessinsider.com/stocks/next_digital-stock">Next Digital</a>, hit their highest level since September 2008 on Tuesday, as activists started an online campaign to encourage others to support him.</p><p>The publisher's shares surged on Tuesday and closed at HK$1.10 ($0.14) after quadrupling on Monday. The rise in the price of the stock helped drive its valuation to over HK$2.6 billion ($335 million).</p><p>After news about the arrest first broke, the firm's shares slumped 17% to a record low of HK$0.075 ($0.0097).</p><p><div type="image" title="Screenshot 2020 08 11 at 12.04.20 PM" height="630" width="877" msid="77486057" hostid="261"></div></p><p>Next Digital, previously known as Next Media, issued a <a href="https://www.nextdigital.com.hk/investor/download/e_Unusal%20Movement_20200811.pdf.72bba1b8ddf128214c037401366a0ad2">statement</a> late Tuesday that said "it is not aware of any reasons" for the surge in price and volumes.</p><p>It was the third-most traded stock in Hong Kong on Tuesday after tech giant Tencent and online retailer Meituan Dianping. </p><p><strong><em>Read More:</em></strong> <a href="https://www.businessinsider.com/investing-advice-4-small-cap-sectors-to-buy-amid-coronavirus-2020-8"><em>A Wall Street expert breaks down why investors should be giving more weight to small companies in their portfolios — and says these 4 sectors are set to boom amid the pandemic fallout</em></a></p><p>71-year-old Lai, who is the controlling shareholder of the firm, is the highest-profile person to be arrested along with other pro-democracy activists and people in the media. The office of his Apple Daily newspaper were raided on Monday over allegations of collusion with foreign forces. </p><p>Lai's firm is known to be one of the only remaining defenders of media freedom in the Chinese-ruled city. </p><p>The stock's record gain symbolizes how Hong Kong's activists are using different methods of protest against the national security law that undermines the city's freedoms.</p><p>Demonstrating further solidarity, Lai's supporters reportedly lined up to purchase copies of his firm's leading newspaper Apple Daily Hong Kong. The outlet <a href="https://hk.appledaily.com/local/20200811/YTCAUQSGEHUVYRCXP2CU6SX4HY/?utm_campaign=hkad_social_hk.nextmedia&amp;utm_medium=social&amp;utm_source=facebook&amp;utm_content=link_post&amp;fbclid=IwAR0NYrjW6Kcswx_G7yJse4D-VmRT-Gmvl0t53-v9tHXla5zHXtnfDLB9kN8la5zHXtnfDLB9kN8">said</a> it decided to increase printing of copies to 550,000 from 70,000 on an "overwhelming response" from readers.</p><p>His arrest "bears out the worst fears that Hong Kong's National Security Law would be used to suppress critical pro-democracy opinion and restrict press freedom," said Steven Butler, the Committee to Protect Journalists' <keyword id="21718" type="ENTERTAINMENT" weightage="60" keywordseo="Asia">Asia</keyword> programme coordinator. </p><p>"Jimmy Lai should be released at once and any charges dropped."</p><p><strong><em>Read More:</em></strong> <a href="https://www.businessinsider.com/real-estate-investing-strategy-steps-from-flipping-homes-to-syndication-2020-8"><em>No money, no education, and no connections: Here's how Brian Burke went from a small-time house flipper to a real-estate investing magnate with over 750 deals and 3,000 units</em></a></p>

Activists pump up Hong Kong media stock 1,000% after its pro-democracy founder was arrested

New Delhi, Feb 19 () Food ordering and delivery platform Swiggy on Wednesday said it has raised USD 113 million (over Rs 805 crore) in the latest funding round led by existing investor Prosus NV.<p> Meituan Dianping and Wellington Management Company also participated in the funding round.</p><p> Having grown beyond food delivery, the company aims to use the funds to further develop its new lines of business, addressing visible gaps in the market, Swiggy said in a statement.</p><p> The company will continue to invest in new growth areas (Stores, Go and SuprDaily) as it delivers on its promise of bringing unparalleled convenience to the lives of urban consumers, it added.</p><p> "We have become synonymous with exceptional customer experience and created multiple growth avenues for our partners while continuing to invest in new lines of business," Swiggy CEO Sriharsha Majety said.</p><p> The company is focused on continuing to execute on its vision while building a sustainable path to profitability, he added.</p> "Swiggy continues to exhibit strong execution and a steadfast commitment to delivering the best service to consumers and has one of the best operational teams in food delivery globally. We are confident Swiggy will continue on a path to earn a significant place in the daily lives of Indians," Prosus Ventures and Food CEO Larry Illg said.   AKT HRS

Swiggy raises USD 113 mn from investors led by Prosus

<ul><li><strong><keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> raised $5 million in funding from Pacific Horizon Investment Trust. <br /></strong></li><li><strong>Meanwhile, today <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> also announced that it raised an additional $43 million as a part of its ongoing Series I round. <br /></strong></li><li><strong>Zomato’s latest funds take its valuation to $3.25 billion, according to reports. However, it still falls short of Swiggy’s $3.6 billion valuation.<br /><br /></strong></li></ul>Even as most <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> are facing the heat of depressed funding, two unicorns raised funds today. Foodtech unicorn Zomato raised $5 million from Pacific Horizon Investment Trust. The fund is managed by British investment manager Baillie Gifford, who had earlier invested in Flipkart. <br /><br />But not far behind is its rival Swiggy. Today, Swiggy announced that it has raised an additional $43 million as part of its ongoing Series I round. The size of the round now stands at $156 million. Along with existing investor Tencent, new investors Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets participated in this round.<br /><br />“We are humbled by the faith shown by our investors year-on-year and welcome the new investors on board. Our focus remains to execute on our vision while building a sustainable path to profitability,” said Rahul Bothra, CFO, Swiggy in a statement. <br /><br />Zomato’s latest funds take its valuation to $3.25 billion, according to <a href="https://www.dealstreetasia.com/stories/india-zomato-fundraising-183164/">reports</a>. However, it still falls short of Swiggy’s $3.6 billion valuation. Interestingly, Zomato's total fundraise so far stands at $900 million, whereas Swiggy has raised the twice amount with $1.6 billion. <br /><br /><strong>The food war</strong><br /><br />Both Zomato and Swiggy have raised fresh funds this year. In January, Zomato had raised $150 million from Ant Financial. In February, Swiggy had raised $113 million from led by existing investor Prosus N.V. along with participation from Meituan Dianping and Wellington Management Company.<br /><br /><br />The companies haven’t closed the rounds. While Zomato is raising $600 million as announced by its founder and CEO Deepinder Goyal had said at an event in December 2019, details of Swiggy’s Series I round are not known. <br /><br />In January 2020, Zomato acquired UberEats in an all stock deal. The deal which gave Uber a 9.9% stake in Zomato, resulted in its market share rising to 55%, sources told Business Insider. However, another source told Business Insider that Swiggy continues to hold a bigger share of the revenue at 60%. <br /><br />See Also: <a href="https://www.businessinsider.in/business/startups/news/zomato-rolls-out-its-grocery-delivery-service-zomato-market/articleshow/74992299.cms">Zomato rolls out its grocery delivery service – Zomato Market</a><br />

Zomato and Swiggy both raise funds – but Swiggy leads with a higher valuation

<ul class="summary-list"><li>Swedish <keyword id="6" type="ENTERTAINMENT" weightage="60" keywordseo="fashion">fashion</keyword> retailer <keyword id="150626" type="COMPANY" weightage="60" keywordseo="HM">H&amp;M</keyword> is being boycotted by Chinese online retailers and customers alike.</li><li>The boycott is in reaction to an H&amp;M statement on not using <keyword id="46500" type="COMPANY" weightage="60" keywordseo="Xinjiang">Xinjiang</keyword> cotton due to "forced labor" concerns.</li><li>Some physical stores are closing and signs are being taken down in response to the backlash.</li></ul><p>Swedish fast-fashion retailer H&amp;M is facing boycotts by Chinese online e-commerce platforms and customers alike after a statement on its "concerns" regarding the use of "forced labor" to produce Xinjiang cotton resurfaced this week. </p><p>H&amp;M is one of several big <keyword id="6356001" type="UNKNOWN" weightage="60" keywordseo="international">international</keyword> brands, including <a href="https://www.insider.com/chinese-weibo-angry-xinjiang-burning-nike-shoes-2021-3">Nike</a> and Adidas, that were targeted by the Chinese online community this week after translations of its statement on human rights violations in Xinjiang were circulated on the Chinese social media platform <keyword id="670351" type="COMPANY" weightage="60" keywordseo="Weibo">Weibo</keyword>.</p><p>In the statement, H&amp;M said it would not source cotton from the Xinjiang Uighur Autonomous Region and added it was terminating its relationship with a Chinese yarn company accused of using the "forced labor" of Uighur Muslims. Additionally, the company said that it was "deeply concerned by reports from civil society organizations and media that include accusations of forced labor".</p><p>As of noon on Thursday, H&amp;M's listings had been scrubbed clean from popular shopping apps like Alibaba, Taobao, JD.com, and Pinduoduo. </p><p>In solidarity with the mass boycott, conglomerate Meituan's shop-listing app Dianping, as well as Baidu Maps (the Chinese version of Google Maps) also removed the geo-locations of H&amp;M stores from their mobile and desktop applications, making it impossible to search for H&amp;M's physical stores on any online platform. </p><p>A <a href="https://weibo.com/1408078073/K7OtOoJfP?refer_flag=1001030103_&amp;type=commentment">video</a> posted by a Weibo user from Chengdu, a city in Sichuan province, showed workers swiftly dismantling a sign bearing H&amp;M's logo outside one of the city's mega-malls. </p><h2>Weibo users say 'die, H&amp;M, die'</h2><p>Chinese Weibo users expressed solidarity with the moves by the e-commerce platforms and malls, pledging to return H&amp;M items en-masse. Comment threads that spotlighted homegrown Chinese brands that were "good replacements" for H&amp;M clothes were also reposted more than a million times.</p><p>"I'm cutting up all their s---ty clothes. Everyone should boycott the dogs who harm our country," said one Weibo user named Xiaojiaotongxue.</p><p>Weibo posts from Chinese social media users indicated that at least 50 physical H&amp;M outlets in the country have been shuttered abruptly, amid fears that aggressive customers might cause a disturbance. </p><p>"Die, H&amp;M, die," read another comment from a user with the ID FiiiiSiwen, under the image of a shuttered H&amp;M store in a Shandong mall. "Any b---- who still dares to work at this place should also jump off a building."</p><p>According to the BBC, H&amp;M's statement on Xinjiang cotton was posted last year, <a href="https://www.bbc.co.uk/news/extra/nz0g306v8c/china-tainted-cotton">after it came to light that hundreds of thousands of Uighurs were being forced into hard labor in the Xinjiang region</a>.</p><p>But it resurfaced on Chinese social media this week after <a href="https://www.reuters.com/article/uk-usa-china-eu-sanctions-idUSKBN2BE2LF">the EU, US, Britain, and Canada imposed sanctions on Chinese officials over accusations of human rights violations related to the treatment of the Uighur minority in Xinjiang</a>. In response, <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword> retaliated by sanctioning European institutions and lawmakers.</p><p>According to an article by <a href="https://www.washingtonpost.com/world/chinas-state-media-calls-for-boycott-of-handm-for-avoiding-xinjiang-cotton/2021/03/24/41a3ef4a-8d07-11eb-aff6-4f720ca2d479_story.html">The Washington Post</a>, the statement was dredged up by the country's state broadcaster CGTN yesterday, as it exhorted consumers to boycott the brand, saying H&amp;M would "pay a heavy price."</p><p>This co-ordinated call to boycott was also repeated on other platforms linked to the Chinese Communist Party. Chinese <keyword id="6355005" type="UNKNOWN" weightage="100" keywordseo="news">news</keyword> outlet <a href="https://www.globaltimes.cn/page/202103/1219362.shtml">Global Times</a> called H&amp;M's move "suicidal," highlighting that the Communist Youth League of China had made a post slamming the brand, saying: "Spreading rumors to boycott Xinjiang cotton while also wanting to make money in China? It is wishful thinking!"  </p><p>Insider has reached out to H&amp;M, Alibaba, JD.com, and Pinduoduo for comment. </p><h2>Big brands contend with the fallout from Xinjiang statements</h2><p>Also grappling with the fallout from the Xinjiang controversy was Nike, which saw some of its ardent fans setting fire to their shoes after the brand said it <a href="https://purpose.nike.com/statement-on-xinjiang">would not use cotton from China's disputed Xinjiang region.</a></p><p>Insider earlier reported that the explosion of vitriol on Chinese social media had forced Chinese celebrities like Wang Yibo to cut ties with Nike and other brands embroiled in the controversy, for fear of receiving death threats and being branded as a "national traitor." </p><p>Statements from brands like Adidas, GAP, Fila, New Balance, Zara, and Under Armour saying they will not use Xinjiang cotton have been added to a Weibo list of "brands to blacklist" that grows longer by the hour.</p><p>Posts on Weibo citing the term "杀鸡儆猴" - literally translated as "kill the chicken to frighten the monkey" - have been circulating as well, referencing the online community's systematic boycott of EU brands before American ones. </p><p>"Europe, America, we'll take them all on and crush them alive," said one Chinese social media user with the ID Shaomiao Feifei. "There is no respect for us. Don't grovel and earn Chinese money, then spit on Chinese soil."</p>

'Die, H&M, die:' brand grapples with Chinese boycott and social media firestorm over Xinjiang 'forced labor' comments

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>AP / Ng Han Guan</span></p><p class="caption">Alibaba is no Amazon copycat.</p></div><p></p></div></div></p><ul><li><strong>Brian Wong, Alibaba's vice president of global initiatives, thinks that Silicon Valley holds two major misunderstandings about China's tech market.</strong></li><li><strong>Contrary to belief, Chinese companies don't want to "take over" the competition but would rather integrate, according to Wong.</strong></li><li><strong>Wong also thinks that Chinese companies are perceived as copycats when they have developed major innovations around mobile payments and building online ecosystems.</strong></li></ul><p>Over the last several decades, China's technology industry has gained a reputation in Western media for being full of cheap copycat products. That view is wildly outdated, according to <a href="https://e27.co/brian.a..wong" target="_blank" rel="noopener">Brian Wong</a>, v<span>ice president of global initiatives at Chinese tech giant Alibaba.</span></p><p><span>The major misconception Silicon Valley has about China, according to Wong, is that "it is a copycat technology market and that they don't have original ideas."</span></p><p>"It is very clear now that true innovation is emerging from these markets," Wong told Business Insider in a recent interview.</p><p>In particular, Wong pointed to innovations around e-commerce and mobile payments - two areas that Alibaba has dominated in China. For example, Alipay, along with its competitor WeChat Pay, is used by more than<a href="http://www.xinhuanet.com/english/2018-01/02/c_136867491.htm"> half a billion Chinese </a>and has turned into <a href="https://www.ft.com/content/0f0b9b82-5ce0-11e8-9334-2218e7146b04">a $16 trillion market</a>. Most young Chinese people are already living a <a href="http://www.scmp.com/magazines/post-magazine/long-reads/article/2110118/going-cash-free-why-china-light-years-ahead">wallet-free and cashless lifestyle, </a>using mobile payments for nearly all of their transactions.</p><p>Other innovative models pioneered in China include dockless bike-sharing - led by <a href="https://techcrunch.com/2018/03/12/chinese-bike-sharing-startup-ofo-raises-866m-in-new-financing-led-by-alibaba-group/">Alibaba-backed Ofo</a> and Mobike, which was recently purchased by <span>Meituan-Dianping <a href="http://www.scmp.com/tech/article/2140187/chinas-meituan-buys-bicycle-sharing-firm-mobike-mobility-push">by $2.7 billion</a>. </span></p><p><span>Perhaps most innovative has been China's mass-adoption of ecosystem-based technology platforms. In contrast to American tech companies like Uber or Facebook, which perform one function extremely well (like transport or social media), China has tended towards applications that fulfill a variety of functions. </span></p><p><span>Alibaba's Taobao app began as an e-commerce platform but has expanded into travel booking, movie tickets, social networking, live-streaming, food delivery, and entertainment. Tencent's WeChat began as a messaging app but can be used for payments, taxi booking, bike sharing, and other features. Meituan-Dianping, which began as a food delivery and restaurant platform, operates in much the same way.</span></p><p><span>The ecosystem model<a href="https://www.ft.com/content/0f0b9b82-5ce0-11e8-9334-2218e7146b04"> extends to China's mobile payments apps</a>. Alipay's data and services is deeply integrated into Taobao while accounts are linked directly to a money-market fund (the largest in the world now at $230 billion), and consumer and business loan products. All of that data is fed into a "social credit" <a href="https://www.cnbc.com/2017/03/16/china-social-credit-system-ant-financials-sesame-credit-and-others-give-scores-that-go-beyond-fico.html">scoring business called Sesame Credit</a>.</span></p><p><span>As William Li, the founder of electric car startup Nio, told Business Insider recently, "With the development of the social-mobile internet, the brand in the future will not be defined by product or services. It should be defined by the user base."</span></p><p><span>By necessity, Chinese tech companies have had to develop models and platforms that are effective for scales of hundreds of millions or even a billion people, Wong said. Even further, it's had to develop for an audience whose first contact with the internet will likely be with a smartphone.</span></p><p>"The capabilities, innovation, and creativity that is coming from China should be an inspiration to companies in the Valley about creating products that are relevant and applicable to emerging markets," Wong said.</p><p>A second major misconception that Silicon Valley has about China, according to Wong, is seeing China and the Chinese tech market as a "threat instead of opportunity." The "threat" narrative of China has been around for decades, dating back to the 1990s when China's economy was primarily based around low-cost exports, according to Wong.</p><p>But these days, the economy has begun to shift to a consumer-driven economy, a shift pushed in large part by President Xi Jinping and the Communist Party. </p><p>"That represents a massive opportunity for US companies to sell their products," he said.</p><p>But, Wong said, for those Americans wanting to seize the opportunity,  it's on them to take the time to learn more about China and Chinese culture and "not in the standard Kung Fu movie and take-out Chinese food way. </p><p>Alibaba founder Jack Ma, according to Wong, constantly reminds employees that China is built around three philosophies - Daoism, which teaches about harmony; Buddhism, which teaches about tolerance; and Confucianism, which teaches about order. If you can understand the principles behind those philosophies, Wong said, you'll have a better grasp of why the Chinese tech market works the way it does.</p><p>"China is much more about integrating as opposed to taking over or competing in the traditional sense. They want to create and integrate," Wong said.</p><p class="tagline">Get the latest Alibaba stock price<a href="http://markets.businessinsider.com/stock/baba-Quote"> here.</a></p>

The two biggest things Silicon Valley misunderstands about China, according to a top Alibaba exec

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Thomson Reuters</span></p><p class="caption">Alibaba Group's executive chairman Jack Ma is looking to get into the location services market.</p></div><p></p></div></div>A new $15 billion (£9.8 billion) Chinese mega startup is set to be created as two companies backed by Alibaba and Tencent look to merge into one giant local services platform.</p><p>The merger between <a href="http://meituan.com">meituan.com</a>, part-owned by Alibaba, and Tencent-backed <a href="http://dianping.com">dianping.com</a> will create one large platform that provides everything from restaurant reviews and movie bookings, according to sources cited by <a href="http://www.wsj.com/articles/chinese-startups-meituan-com-and-dianping-near-multibillion-dollar-merger-1444188561" target="_blank">The Wall Street Journal</a>.</p><p>The deal could be announced as early as Thursday and the sources say that Meituan's shareholders will own about 60% of the new enterprise.</p><p>China's largest tech giants are getting behind the new wave of companies that are tapping into the online-to-offline services market, which could be worth as much as $1.6 trillion (£1 trillion), according to <a href="http://www.iresearchchina.com/news/5669.html">a <span>report by the iResearch Consulting Group. </span></a></p><p>Investors anticipate that an increasing number of people will use their smartphones and tablets to book everything from accommodation to car journeys.</p><p>iResearch forecasts that the adoption of location-based services in China could rise 29% to 400 million by 2017.</p><p>The new tech giant could compete directly with Baidu, which is <a href="http://www.reuters.com/article/2015/06/30/us-baidu-investment-idUSKCN0PA0MH20150630" target="_blank">investing $3.2 billion (£2.1 billion) in Nuomi</a>, its own local services venture, over the next three years as it looks to move away from search and into on-demand services.</p><p>"The two companies merging would allow them to have absolute dominance of the group-buying market, and require less cash burn," said Wang Weidong, an analyst at iResearch in Beijing. "They will be putting a lot of pressure on competitors."</p><p>Meituan, a five-year-old Beijing startup often compared to Groupon, accounted for 51.9% of Chinese group buying transactions in the first six months of this year, while Dianping accounted for 29.5%, and Nuomi had 13.6%, <a href="http://www.bloomberg.com/news/articles/2015-10-07/china-s-meituan-said-to-agree-to-15-billion-dianping-merger">according to Bloomberg.</a></p><p>Meituan's revenues were <a href="http://www.bloomberg.com/news/articles/2014-05-12/alibaba-backed-buying-site-meituan-eyes-u-s-ipo-as-sales-triple" target="_blank">expected to more than triple</a> to approximately $300 million (£196 million) in 2014, according to chief executive Wang Xing, and the company's last funding round valued it at $10.5 billion (£6.9 billion).</p><p>Dianping, founded in 2003, offers search, consumer-generated reviews, and offers. The company is backed by Chinese investment holding firm Tencent, which holds roughly <a href="http://www.bloomberg.com/news/articles/2014-02-19/tencent-agrees-to-buy-20-stake-in-review-dianping-com" target="_blank">20% of the shares</a>.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/google-opens-campus-seoul-startups-korea-2015-5">Google opens up a 21,000-square-foot campus in South Korea for startups</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="swaHVhdTpQ39OXNWrkpqJkA-QbVzp7qe" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Chinese startups backed by Alibaba and Tencent are set to merge into a $15 billion corporation

<ul><li><strong><keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> may be announcing new service called '<keyword id="207100" type="PERSON" weightage="20" keywordseo="Dash">Dash</keyword>'.</strong></li><li><strong>Reports say the company will deliver groceries and medicines to users.</strong></li></ul>Swiggy may <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/swiggy-looks-to-bring-medicines-groceries-to-you/articleshow/63919179.cms" data-type="tilCustomLink">soon be announcing</a> a service called ‘Dash’, under which the company will deliver grocery and medicines. The venture might help optimise the costs of running their fleet of delivery vehicles.<br /><br />A source told <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/swiggy-looks-to-bring-medicines-groceries-to-you/articleshow/63919179.cms">Economic Times</a>, “While several categories have been discussed, they may start with medicines and then on to groceries.” Not only will such an endeavor diversify Swiggy’s portfolio, but the move is also aimed a boosting delivery volumes.<br /><br />If volume is the keyword, then Meituan-Dianping probably had a part to play in this decision. As a key investor in Swiggy, it can be reasonably assumed that they’re looking to apply their business model from China to Swiggy’s India operations. It includes offering deliveries and services across numerous categories, including groceries, cabs, personal services and payments. <br /><br />Swiggy currently has a workforce of approximately 30,000 delivery personnel and they plan on maximising their output by increasing the avenues for delivery. Their focus is going to be on afternoons, particularly between 2pm and 6pm. According to reports, ‘Dash’ should be live in the next couple of months. <br /><br />The move comes at a time when Swiggy is in conversation with Coatue Management and DST Global, both global investment companies, to raise $200 million. The influx of resources has the potential to increase Swiggy’s valuation to over $1 billion. <br /><br />Statistics suggest that Swiggy already handles over 7 million orders each month across 35,000 restaurants. In comparison, Zomato claimed that they crossed the 5.5 million mark in India and the UAE last month.<br /><br /><br />This isn’t a new trend. Not in terms of businesses diversifying or even <keyword id="6376068" type="UNKNOWN" weightage="20" keywordseo="food-delivery">food delivery</keyword> services specifically. Globally, services like DoorDash have transformed from being an on-demand restaurant delivery service to integrating grocery deliveries in partnership with retail giants like Walmart. <br /><br />Uber is another example. The company diversified from being a cab service to launching UberEats, a food delivery app. <b><br /></b>

Swiggy may start delivering other items soon

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.instagram.com/harrisonxjacobs/">Harrison Jacobs/Business Insider</a></span></p><p class="caption">Speak the same food language as locals.</p></div><p></p></div></div></p><ul class="summary-list"><li><strong>In March, I left New York to travel around the world as Business Insider's<span> </span><a href="https://www.businessinsider.com/author/harrison-jacobs">international correspondent</a>. In total, in my life, I've traveled to 30-plus countries and countless cities.</strong></li><li>As someone who travels full-time, I rarely cook and I am constantly looking for good, healthy, and cheap food near me. But that's difficult when you are in new places you haven't explored yet.</li><li>My best tip for finding good, healthy, cheap food in a new place is to research the restaurant recommendation app or crowdsourced review site most used by residents of the place you are visiting. </li><li>The most-used recommendation app changes from country to country and even city to city. But, if you know which one people use, you can tap into locals' knowledge instead of relying on the concierge at your hotel.</li></ul><p>I'm not ashamed to call myself a foodie. The term has become<span> </span><a href="https://www.washingtonpost.com/news/wonk/wp/2016/03/01/why-the-word-foodie-is-terrible-and-needs-to-go-away/?utm_term=.c52710e79c48">wildly overused, abused, and then derided</a><span> </span>in recent years, but I take it to mean someone who is genuinely interested in the world's multivarious cuisines.</p><p>So you can imagine that when I left New York in March to become Business Insider's <a href="https://www.businessinsider.com/author/harrison-jacobs">international correspondent</a>  - and travel full-time - it was a dream come true.</p><p>But then I touched down in Hong Kong and the question hit me: How am I going to know which are the good places to eat?</p><p>Luckily, Americans aren't the only people who obsessively use smartphones. Everywhere I've been - 13 countries and counting this year - locals find restaurants in much the same way I do when I'm home in New York. They use crowd-sourced review apps like FourSquare or Yelp.</p><p><span>The quality of restaurant and other small business recommendations in any place you visit depends entirely on having an active community for a particular app.</span></p><p>While TripAdvisor always has plenty of reviews no matter where you travel, the community is fellow travelers, not locals. That means you are getting recommendations from another person who is exploring a place they barely know. It's the blind leading the blind.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.instagram.com/harrisonxjacobs/">Harrison Jacobs/Business Insider</a></span></p><p class="caption">The first thing I ate in Hong Kong.</p></div><p></p></div></div></p><p><strong><em>Read More:</em></strong> <em><a href="https://www.businessinsider.com/avoid-crowds-caribbean-mediterranean-cruise-ship-calendar-2018-10"><span style="color: #000000;">I've visited more than 30 countries, and the best trick I've found to avoid crushing crowds is a free online tool</span></a></em></p><p>Usually, there is one app that has the most active local community doing the usual: leaving tips, posting food porn, and dropping reviews for their favorite spot. It's rarely, if ever, Yelp or FourSquare.</p><p>In China, the app to use is <a href="https://www.dianping.com/">Dianping</a> or Meituan. In Hong Kong, everyone uses <a href="https://www.openrice.com/en/hongkong">OpenRice</a>. Singaporeans use OpenRice and <a href="http://www.hungrygowhere.com/">HungryGoWhere</a>, among others (Singapore is a city of foodies, so there's a few). In Korea, <a href="https://go.skimresources.com/?id=35871X943606&amp;xs=1&amp;isjs=1&amp;url=https%3A%2F%2Fitunes.apple.com%2Fus%2Fapp%2F%25EB%25A7%259D%25EA%25B3%25A0%25ED%2594%258C%25EB%25A0%2588%25EC%259D%25B4%25ED%258A%25B8-%25EB%25A7%259B%25EC%25A7%2591-%25EC%25B6%2594%25EC%25B2%259C-%25EA%25B2%2580%25EC%2583%2589-%25ED%2595%2584%25EC%2588%2598%25EC%2595%25B1%2Fid628509224%3Fmt%3D8&amp;xguid=00424a4b98a336bafd5776e19dab4a96&amp;xuuid=81cd5c16c6fa0da0c0d94bdc0f5d4f12&amp;xsessid=&amp;xcreo=0&amp;xed=0&amp;sref=https%3A%2F%2Fwww.businessinsider.com%2Fbest-apps-for-travel-china-greece-israel-russia-2018-9%23korea-kakaotalk-kakaot-free-15&amp;pref=https%3A%2F%2Fwww.businessinsider.com%2Fauthor%2Fharrison-jacobs&amp;xtz=-240&amp;jv=13.12.1-stackpath&amp;bv=2.5.1">MangoPlate</a> is the way to go. In Dubai, everyone uses <a href="https://www.zomato.com/uae">Zomato</a>.</p><p>I could go on.</p><p>When I traveled when I was younger, the first thing I would do in a new place is ask a local their favorite restaurant. While I still do that, I always ask another question: What app do you use to find good food?</p><p>There's always an answer. And once I have that, I feel like I have the key to the city.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/clear-jelly-noodles-shangxin-liangfen-is-street-food-china-2018-8">These popular Chinese street food noodles are made with green bean jelly and served with extra spicy sauce</a></h3>        <div>                    </div>    </div>

I've been traveling the world for 6 months and I use the same trick in any city I visit to make sure I find amazing food

<div title="Page 5"><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="http://www.gettyimages.com/photos/china-fans-cheer?excludenudity=false&amp;family=editorial&amp;page=3&amp;phrase=China%20fans%20cheer&amp;sort=best">Kevin C. Cox./Getty</a></span></p></div><p></p></div></div></p><ul><li><strong>Chinese companies outpaced their American counterparts in venture-capital funding for the first time during the second quarter, according to Goldman Sachs.</strong></li><li><strong>Tech giants and Softbank contributed the most to this milestone.</strong></li><li><strong>According to Goldman's analysts, Chinese tech giants including Alibaba and Baidu are creating ecosystems with unprecedented influence to develop new technologies and business models. </strong></li><li><strong>Watch <a href="https://markets.businessinsider.com/stocks/baba-stock">Alibaba</a>, <a href="https://markets.businessinsider.com/stocks/bidu-stock">Baidu</a>, <a href="https://markets.businessinsider.com/stocks/tencent-stock">Tencent</a> and <a href="https://markets.businessinsider.com/stocks/jd-stock">JD.com</a> trade in real-time.</strong></li></ul><p>Chinese companies have outpaced their North American rivals in funding startups for the first time - even as the country's economy shows signs of slowing down.</p><div title="Page 1"><p><span>In the second quarter, </span>China-based companies recorded <span>$30.9 billion of venture-capital investment, higher than North America's $27.2 billion, according to data from Goldman Sachs. </span></p><p><span>Notably, ANT Financial, the Alibaba affiliate that runs China's largest online-payments platform, raised a $14 billion Series C round, the largest-ever deal in the history of VC funding, Goldman said.</span></p><p><span>"While corporate venture capital has been a major driver of growth in venture as an asset class globally, nowhere has that been more evident than Asia, where Alibaba, Baidu, JD.com, and Tencent have followed the lead of SoftBank, creating massive ecosystems of venture investments under their umbrellas," said a team of analysts led by Heath Terry in a recent note to clients.</span></p><p><span>"Nearly every major private company in China has at least one of those five companies as an investor, and the level of influence these ecosystems have in steering the development of new technologies and business models is unprecedented."</span></p><p><span>Investments from Chinese giants span across areas from fintech to logistics, and are often used to widen their industry footprints. One way they're doing this is by funding competitors in the same industries. </span></p><p>"For instance, Ofo and Mobike (acquired by Meituan-Dianping), which are the top bike sharing brands in China, each received funding from Tencent in the past," Heath said.</p><p>"Similarly, Baidu Waimai, an online food delivery business once backed by BATJ, merged with Ele.me which counted Alibaba, JD.com and Tencent among its investors. <a href="https://markets.businessinsider.com/news/stocks/alibaba-stock-price-aggressively-in-chinese-food-delivery-service-eleme-2018-8-1027484169">Ele.me has since then been fully acquired by Alibaba</a>."</p><div title="Page 15"><div title="Page 16"><div title="Page 18"><div><div><div><p><span>Here is a list of some investments made by Alibaba, Baidu and Tencent across verticals.</span></p></div></div></div></div><p><span><div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Goldman Sachs" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/5b92b59464dce828308b4e97-960/screen shot 2018-09-07 at 12925 pm.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span>Goldman Sachs</span></p></div><p></p></div></div></span></p></div></div><div title="Page 14"><p><span>Heath added that apart from the Chinese tech giants, VC investments flowed in from public funds, including governments, which sought to capitalize on companies' success before they filed for initial public offerings. And as valuations continue to soar in the private markets, more companies are looking to go public earlier than before, Heath said.</span></p><p><span>The rising momentum in Chinese global VC investing is partly being driven by the government's efforts to</span><span> reduce its dependence on the manufacturing sector and promote a consumption-driven economy for combating <a href="https://markets.businessinsider.com/news/stocks/china-economy-slows-prompting-infrastructure-stimulus-before-us-tariffs-2018-8-1027500524">slowing growth</a>, Heath said. </span></p><p><span>The country's economic <a href="https://www.businessinsider.com/china-economy-slows-prompting-infrastructure-stimulus-before-us-tariffs-2018-8">slowdown could worsen</a> amid its trade dispute with the US; President Donald Trump threatened to <a href="https://www.businessinsider.com/trump-china-trade-war-tariffs-267-billion-goods-2018-9">hit China with tariffs on another $267 billion goods on Friday.</a></span></p><div title="Page 1"><div title="Page 1"><div><div><div><p><strong>Now read:</strong></p><ul><li><a href="https://www.businessinsider.com/midterm-election-2018-predictions-scenarios-implications-for-financial-markets-ubs-2018-9?r=markets-insider">UBS details all the possible outcomes of the midterm elections and why a so-called blue tsunami could be the most devastating for stocks</a></li></ul></div></div></div></div></div></div></div></div>

GOLDMAN SACHS: Chinese tech giants are dominating North America in VC funding for the first time, and it could be the start of an unprecedented boom

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="https://www.flickr.com/photos/lennartt/7035498133/">Lennart Tange/Flickr (CC)</a></span></p></div><p></p></div></div>A Chinese fintech company that is partly owned by the chairman of e-commerce giant Alibaba has raised a $4.5 billion (£3.1 billion) funding round - breaking records in the process, <a href="http://techcrunch.com/2016/04/25/ant-financial-the-alibaba-affiliate-that-operates-alipay-raises-4-5b-at-a-60b-valuation/" target="_blank">according to the Wall Street Journal</a>.</p><p>Ant Financial raised the round at a $60 billion (£41.3 billion) valuation.</p><p>Alibaba chairman Jack Ma is Ant's largest stakeholder, according to <a href=". The Financial Times reported that the company was coming back in March. " target="_blank">The Financial Times</a>, but Alibaba does not formally own any shares in the company.</p><p>Ant Financial, which operates China's largest online-payments platform, Alipay, raised the money from a range of investors, including $740 billion (£510 billion) Chinese sovereign-wealth fund China Investment Corp (CIC) and some of China's biggest insurers, such as China Life, China Post Group, China Development Bank Capital and Primavera Capital Group.</p><p><a href="http://www.ft.com/cms/s/0/d1c6cd5a-e509-11e5-bc31-138df2ae9ee6.html#axzz46uw2Ox5u" target="_blank">The Financial Times reported</a> that the funding round was in the process of being raised back at the start of March.</p><p>Ant Financial offers online wealth management and banking services in addition to its core Alipay product, which is used to process payments across all of Alibaba's sites.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>REUTERS/Lucy Nicholson</span></p><p class="caption">Alibaba executive chairman Jack Ma is the largest stakeholder in Ant Financial.</p></div><p></p></div></div>Spun out of Alibaba in 2014, Ant Financial claims to reach 450 million users in China, <a href="http://techcrunch.com/2016/04/25/ant-financial-the-alibaba-affiliate-that-operates-alipay-raises-4-5b-at-a-60b-valuation/" target="_blank">according to TechCrunch</a>. Many of those customers are reportedly found across rural China, where access to financial services have traditionally been harder to come by.</p><p>Cyril Han, Ant Financial's vice president, told The Wall Street Journal that Ant Financial is planning a public listing, although he didn't give a timeframe for this.</p><p>The investment is the largest private fundraising round for any internet company, The Wall Street Journal reports. The title was previously held by another Chinese firm called Meituan-Dianping, which has a platform that facilitates movie ticket selling and restaurant bookings. </p><p>For the sake of comparison, Uber's largest funding round is $2 billion, while Airbnb's is $1.5 billion.</p><p class="tagline"><div id="categorypromo"><p></p></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-to-find-secret-facebook-messages-2016-4">I found 9 years' worth of messages hidden in my secret Facebook inbox</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="V4azVvMjE6OBd2Zsrz7lqYc7u8OlXXh_" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

China's Ant Financial just raised the biggest funding round in history

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><ul><li><strong>Taiwan President Tsai Ing-wen had a cup of coffee at a Taiwan-owned coffee shop in Los Angeles last Sunday.</strong></li><li><strong>The cafe, 85°C Bakery Cafe, has since received a barrage of attacks from Chinese citizens and state media, who have accused it of supporting Taiwanese independence and undermining China.</strong></li><li><strong>85C has since declared its support for China's territorial ambitions, but that wasn't enough.</strong></li><li><strong>Multiple food delivery companies in mainland China removed 85C's products from its platforms.</strong></li><li><strong>The share price of 85C's parent company also plummeted on Thursday, wiping $120 million off its value.</strong></li><li><strong>China has pressured multinational companies over their stance on Taiwan multiple times before.</strong></li></ul><p><br>China is waging war against a bakery-and-coffee chain that served the President of Taiwan coffee during her trip to the US.</br></p><p>85°C Bakery Cafe - known as 85C - has come under attack from Chinese citizens and media after photos emerged of Taiwanese President Tsai Ing-wen at its Los Angeles branch last Sunday.</p><p>In the wake of the photos, 85C has been forced to declare its support for China's territorial ambitions, endured attacks in Chinese state media, and seen its products removed from food delivery apps in mainland China.</p><p>Tsai visited 85C during a stop in the US en route to Belize and Paraguay, two of Taiwan's 18 remaining diplomatic allies. China has pressured other countries to cut diplomatic ties with the island nation.</p><p>Tsai Shih-ying, a Taiwanese politician accompanying the president on her trip, posted photographs of their visit on Monday.</p><p>Tsai's visit angered many Chinese citizens and authorities, who believe that 85C undermined China and supported Taiwanese independence by serving the Taiwanese president coffee.</p><p>The cafe has <a href="https://www.weibo.com/85coffee?topnav=1&amp;wvr=6&amp;topsug=1&amp;is_hot=1#1534502609286">received dozens of comments</a> on popular Chinese microblogging platform Weibo telling them to "get out of China" in the wake of the visit. Commentators are also encouraging boycotts of the coffee chain in mainland China.</p><p>The international cafe chain was opened in Taiwan but has more than 900 branches in mainland China, Taiwan, Hong Kong, <a href="http://www.85cbakerycafe.com/locations/">California</a>, and <a href="http://www.85cafe.com.au/">Australia.</a> More than 600 are in mainland China alone, <a href="https://www.scmp.com/news/china/policies-politics/article/2160034/bakery-chain-85c-share-price-falls-china-backlash-grows">according to the South China Morning Post</a>.</p><p>The chain responded to the furore on Wednesday, posting on <a href="http://www.85coffee.com.cn/ActivityList_Detail.aspx?id=204">its mainland China site</a> and on <a href="https://www.weibo.com/1893191392/GuIBYoqpO?from=page_1006061893191392_profile&amp;wvr=6&amp;mod=weibotime">Weibo</a> a statement declaring its support for the "1992 Consensus," an ambiguous policy used by Beijing to assert its claim over Taiwan.</p><p>85C said: "This company's firm support for the '1992 Consensus' has never changed. This company will also continue pushing toward the peaceful development of the two straits' relations, expand their cooperation, and oppose any words or actions that might divide their familial feelings."</p><p>The statement was written in simplified Chinese, the script used in mainland China, rather than in traditional Chinese, which is used in Taiwan.</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>That didn't appear to be enough, however.</p><p>The bakery's products in mainland China were taken off the country's most popular food delivery apps, including Dianping, Meituan, and Alibaba-owned Ele.me, <a href="https://www.scmp.com/news/china/policies-politics/article/2160034/bakery-chain-85c-share-price-falls-china-backlash-grows">the South China Morning Post reported</a> on Thursday.</p><p>The share price of 85C's parent company, Gourmet Master Co., plunged 7.5% in Taiwan on Thursday in response, wiping $120 million off the company's market value, <a href="https://www.bloomberg.com/news/articles/2018-08-16/gourmet-master-feels-china-s-wrath-after-taiwan-president-visits?cmpid%3D=socialflow-twitter-tictoc&amp;utm_medium=social&amp;utm_content=tictoc&amp;utm_source=twitter&amp;utm_campaign=socialflow-organic">Bloomberg reported</a>.</p><p>On Friday, China's state-run tabloid Global Times <a href="http://news.sina.com.cn/c/gat/2018-08-15/doc-ihhtfwqr7111209.shtml">capitalized on the controversy</a> by reporting that a 85C employees had given Tsai a gift and suggesting that the cafe was providing a platform for Tsai to show her independence.</p><p>While one photo <a href="https://www.facebook.com/keelungING/photos/a.607487662621436/1816501585053365/?type=3&amp;permPage=1">appeared to show Tsai receiving a gift</a> from the branch's employees, the bakery has since <a href="http://www.85coffee.com.cn/ActivityList_Detail.aspx?id=204">clarified in a statement</a> that she had been signing a pillow for a staff member instead.</p><p>Taiwan's presidential spokesman, Alex Huang, this week condemned Beijing's actions as "not in line with a civilized society" and "disrupting market order and freedom of speech," <a href="https://edition.cnn.com/2018/08/17/asia/china-taiwan-bakery-intl/index.html">according to CNN</a>.</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>This is not the first time Beijing has pressured multinational companies over their stance on Taiwan.</p><p>In April, China began demanding that airlines stop listing Taiwan as a sovereign country, and instead describe it as a province of China. <a href="http://uk.businessinsider.com/us-airlines-changed-taiwan-description-2018-7">Dozens of airlines</a> including American Airlines, United Airlines, and <a href="http://uk.businessinsider.com/palau-airline-closes-over-anger-from-china-about-taiwan-ties-2018-7">Palau Pacific Airlines</a> have all given in to those demands.</p><p><a href="http://uk.businessinsider.com/which-companies-have-changed-taiwan-description-china-2018-7/">Other companies</a> including Audi, Mariott International, and Zara have also given in to Chinese demands by altering their maps or listing Taiwan as part of China on their websites.</p><p>Multiple countries have cut diplomatic ties with Taiwan over recent months. Taiwan <a href="http://uk.businessinsider.com/who-are-taiwans-allies-dominican-republic-2018-5?r=US&amp;IR=T">blamed the trend on China's "dollar diplomacy"</a> - using foreign aid and investment to pressure economic allies to cut ties.</p><p>Beijing has ramped up its pressure on Taiwan since Tsai's pro-independence party came into power in 2016.</p><p>Tsai has appeared to push back. <a href="https://www.reuters.com/article/us-usa-china-taiwan/no-one-can-obliterate-taiwans-existence-president-says-on-departure-for-u-s-idUSKBN1KX085">According to Reuters</a>, she defiantly said before her flight that "no one can obliterate Taiwan's existence."</p><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-happens-to-north-korea-defector-2018-8">A North Korean defector's harrowing story of escape</a></h3>        <div>                    </div>    </div></hr>

China is waging war against a cafe because it served coffee to Taiwan's president

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Reuters</span></p><p class="caption">China has the US beat in more than a few areas.</p></div><p></p></div></div></p><ul class="summary-list"><li>After traveling in <a href="https://www.businessinsider.com/category/china">China</a> for six weeks, it became apparent to me that there are certain things the country unquestionably does better than the US.</li><li>High-speed rail is extensive and convenient; the food is complex, diverse, cheap, and delicious; almost all young Chinese people use mobile payments instead of cash; you can get any kind of errand done with China's on-demand services apps; and China's e-commerce platforms make Amazon look dated.</li><li>That's not to say visiting the country was easy. Few people speak English and many of China's most convenient services, like mobile payments, won't work for foreigners. But, despite this, I found my time there to be an incredibly enriching experience.</li></ul><p>I'm not sure what I expected before visiting China.</p><p>Whenever I spoke to people who had visited the country before, the dominant reaction I received - whether the person was white, Chinese-American, or something else - was along the lines of an exasperated sigh and a face that said, "You haven't seen anything yet."</p><p>Even when I was in Hong Kong during the first week of my five-month trip, when I told Hong Kongers that I was about to embark on six weeks in China, they smiled knowingly.</p><p>"Hong Kong is Diet China," one told me. "Hong Kong is China without all the extra difficulties, weirdness, and inconveniences. Get ready."</p><p>After traveling in the country for six weeks, I think I understand a lot of what they were trying to convey. From an American perspective, China does not operate in the way you expect it to.</p><p>For example, it is altogether pretty common for companies to <a href="https://techcrunch.com/2018/04/23/huge-numbers-of-job-postings-in-china-specify-men-only-or-dictate-womens-appearance/">have job listings that include qualifiers</a> like "men only" or "only aesthetically pleasing women."</p><p>On a smaller scale, times are more or less suggestions. Once when asking the bus station when the last bus to the town I was staying would leave, I was told, "7 p.m., maybe." It left at 6:40 p.m. and I missed the bus. Another time, on top of a mountain, when I asked when the cable car closed, I was told, "whenever the workers decide its time to go home." A sign said 7:00 p.m.. The cable car stayed open until 7:30 p.m. </p><p>Among other things: Personal space is nonexistent, few people speak English, and you'll often be told things are not possible with little or no explanation (and that's assuming you understand enough Mandarin to hear the explanation in the first place).</p><p>But despite those difficulties, it became apparent to me that there are certain things the country unquestionably does better than the US. Here's a few:</p><h2>1. High-speed rail and public transport</h2><h3><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.instagram.com/harrisonxjacobs/">Shutterstock</a></span></p><p class="caption">Fast, seamless cross-country <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword>.</p></div><p></p></div></div></h3><p>Traveling to China can often feel like visiting the future. The cities stretch out for what seems like forever, while new skyscrapers, bridges, and futuristically designed landmarks spring up every year.</p><p>Nowhere is this feeling more apparent than when you encounter China's high-speed railway network. At<span> </span><a href="https://www.bbc.com/news/world-asia-china-43406560">15,500 miles</a>, the country's "bullet train" is the world's largest.</p><p><span>The practical result of this is that you can pretty much travel in anywhere in China via high-speed rail. It's usually comparable in speed to air travel (once you factor in security lines and check-in) and far more convenient.</span></p><p><span>What's perhaps most amazing is that the entire system has been built in the last decade. </span>China's first high-speed rail line<span> </span><a href="https://www.forbes.com/sites/salvatorebabones/2018/02/13/chinas-high-speed-trains-are-taking-on-more-passengers-in-chinese-new-year-massive-migration/#6df4bf93423f">was a single 70-mile demonstration line</a><span> </span>built specifically for the Beijing Olympics in 2008.</p><p>In many major cities, the high-speed rail station is located towards the center of the city and is directly connected to that city's metro, which creates a fast, seamless public transportation experience.</p><p><em><strong><a href="https://www.businessinsider.com/china-bullet-train-speed-map-photos-tour-2018-5">Read more about China's high-speed rail »</a></strong></em></p><h2>2. Food</h2><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.instagram.com/harrisonxjacobs/">Harrison Jacobs/Business Insider</a></span></p><p class="caption">Even after six weeks in China, I wasn't sick of Chinese food.</p></div><p></p></div></div></p><p>Chinese food is considered to be<span> </span><a href="https://edition.cnn.com/travel/article/world-best-food-cultures/index.html">one of the most complex and diverse cuisines</a><span> </span>in the world by chefs, food critics, and travelers. Americans, and the rest of the West, tend to think of China as one monolithic place, but the opposite is true. China is comprised of over 1.3 billion people, 23 provinces, 56 ethnic groups, and at least as many different cuisines. Libraries-worth of books<span> </span><a href="https://munchies.vice.com/en_us/article/z4dg4j/dividing-and-conquering-the-cuisines-of-china">have been written simply on China's food</a>.</p><p>Each cuisine has different flavor profiles, hallmark ingredients, and cooking methods. Sweet and sour is a common taste in Shanghainese cuisine, while Szechuan food is known for its extensive use of the numbing peppercorn of the same name. Steaming is extremely popular in Cantonese cuisine, while a number of western and northern regions boil dishes in a "hot pot." As you can probably guess, none of those hot pots taste remotely similar.</p><p>The cuisine is so diverse and specific that it is not uncommon for a particular county or town to be famous for a single dish that is not made anywhere else in the country.</p><p>Whenever I talked to friends back home about visiting China for so long, their first question was often, "But didn't you get sick of eating Chinese food all the time?" Friends, if you understood how diverse Chinese cuisine is, you'd know that's a silly question. </p><p><strong><em><a href="https://www.businessinsider.com/best-chinese-food-in-china-authentic-photos-2018-5">Read more about some of the best foods in China »</a></em></strong></p><h2>3. Mobile payments</h2><h3><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Harrison Jacobs/Business Insider</span></p><p class="caption">Even street musicians use QR codes and mobile payments for tips.</p></div><p></p></div></div></h3><p>Paying with your phone isn't a novelty in China these days. Paying with cash is.</p><p>Over the last 15 years, mobile payments in China<span> </span><a href="https://www.ft.com/content/0f0b9b82-5ce0-11e8-9334-2218e7146b04">have grown into a $16 trillion market</a><span> </span>dominated by China's two biggest tech giants - Tencent and Alibaba. Mobile payments totaled $9 trillion in 2016, according to iResearch Consulting Group. Meanwhile, the US<span> </span><a href="https://www.wsj.com/articles/chinas-mobile-payment-boom-changes-how-people-shop-borrow-even-panhandle-1515000570">saw $112 billion in mobile payments in 2016</a>, according to a Forrester Research estimate.</p><p>Tencent and Alibaba's competing mobile payment apps - WeChat Pay and AliPay, respectively - are used by just about everyone in China, from fancy restaurants and high-end designer boutiques down to street vendors, taxi drivers, and even panhandlers. All you need is a p<span>hone-scannable QR code to give or receive money.</span></p><p><span>Ninety-two percent of people in China's top cities </span><a href="https://www.techinasia.com/wechat-cashless-china-data">said that they use WeChat Pay or AliPay as their primary payment method</a><span>, according to a 2017 study by Penguin Intelligence. And the amount spent per month through those services keeps going up.</span></p><p>The one caveat is that those services don't work for most foreigners as they require a Chinese bank account. When I encountered a cafe that only accepted mobile payments, I had to beg someone in the cafè to use their account to pay for me.</p><p><strong><em><a href="https://www.businessinsider.com/alipay-wechat-pay-china-mobile-payments-street-vendors-musicians-2018-5">Read more about mobile payments in China »</a></em></strong></p><h2>4. On-demand services </h2><h3><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.instagram.com/harrisonxjacobs/">Harrison Jacobs/Business Insider</a></span></p><p class="caption">In every Chinese city, there are tens of thousands of workers fulfilling city-dwellers' ever wish on-demand.</p></div><p></p></div></div></h3><p>While most people know about Chinese internet giants like Alibaba, Baidu, and Tencent, the hottest concept in Chinese tech and startups over the last several years is on-demand services.</p><p>In China's major cities, you can get just about anything done with a mobile phone and the right app. Want a manicure or pedicure done at your home in a few hours? Queue up <a href="https://www.scmp.com/lists/article/1778769/top-5-most-popular-online-offline-apps-china">Heli Jia</a>, a startup connecting freelance nail artists and stylists with customers for in-home treatments. For in-home massages, check out Gongfu Xiong. For food delivery, get Ele.me or Meituan Dianping. </p><p>That's just the start. People living in China can <a href="https://technode.com/2015/01/17/on-demand-service-app-is-the-hot-new-startup-trend-in-china/">hire photographers, personal chefs,  and driving instructors</a> through different apps. They can get their <a href="https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/behind-chinas-runaway-online-to-offline-commerce">car washed, laundry done</a>, or <a href="https://supchina.com/2018/04/04/chinas-biggest-food-delivery-app-buys-chinas-biggest-demand-bike-service/">rent a bike or scooter</a> in a few clicks. While the US has many of these services as well, in China, they tend to be more affordable, more convenient, and speedier.</p><p>And that's without even getting into e-commerce.</p><h2>5. E-commerce and logistics</h2><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>JD</span></p><p class="caption">JD.com prides itself on deliveries packages within a few hours of orders being placed.</p></div><p></p></div></div></p><p>I know, I know. You've got Amazon Prime and your packages magically show up two days after you order them with free shipping (minus the $119/year and the human costs, <a href="https://www.businessinsider.com/amazon-delivery-drivers-reveal-claims-of-disturbing-work-conditions-2018-8">revealed by Business Insider's Hayley Peterson</a>). </p><p>In China, e-commerce giants Alibaba and JD.com pride themselves on even faster shipping with no fee or membership.</p><p>JD.com <a href="https://www.axios.com/china-jd-com-package-delivery-logistics-amazon-ups-fedex-d48830af-6a3c-4873-91a1-688a08a784ca.html">makes 90% of its deliveries in China </a>within 24 hours. 57% of its deliveries are made within 12 hours of order placement. Let's put it this way: If you realize that you forgot your toothbrush at lunch, it'll be delivered to your hotel before it's time to go to bed.</p><p>And it's only going to get more fast and efficient. JD.com is already using drones to expand its high-speed delivery network to over 100 rural villages and counting throughout China. JD's CEO <span>Liu Qiangdong <a href="https://www.economist.com/business/2018/06/09/how-e-commerce-with-drone-delivery-is-taking-flight-in-china">has said he expects drone delivery</a> to cut costs by 70% once it reaches scale.</span></p><p><span>Both Alibaba and JD.com now have fancy Whole Foods-style supermarkets that offer incredibly fresh high quality food delivered within 30 minutes of an order being placed. It's <a href="https://www.businessinsider.com/alibaba-hema-xiansheng-supermarket-whole-foods-amazon-future-2018-5">a marvel to see in action</a>.</span></p><p>There is a human cost. There are 1.2 million<span> <em>kuaidi</em>, or express couriers, in China who <a href="https://www.nytimes.com/2017/01/31/business/china-courier-delivery-labor.html">suffer low pay and often a brutal schedule</a> of seven-day work weeks with as long as 12 hour shifts.</span><span></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/biggest-misconception-about-global-trade-deficits-with-china-costco-2018-7">How a Wall Street chief strategist's Costco shopping experience explains the biggest misconception about global trade</a></h3>        <div>                    </div>    </div>

You Searched For "Dianping" and got 13 results

Snapdeal may be trying to become India’s Dianping

Saikat Pyne

Activists pump up Hong Kong media stock 1,000% after its pro-democracy founder was arrested

Shalini Nagarajan

Swiggy raises USD 113 mn from investors led by Prosus

PTI

Zomato and Swiggy both raise funds – but Swiggy leads with a higher valuation

Sanchita Dash

'Die, H&M, die:' brand grapples with Chinese boycott and social media firestorm over Xinjiang 'forced labor' comments

Cheryl Teh

The two biggest things Silicon Valley misunderstands about China, according to a top Alibaba exec

Matthew Michaels,Harrison Jac…

Chinese startups backed by Alibaba and Tencent are set to merge into a $15 billion corporation

Sam Shead

Swiggy may start delivering other items soon

Prabhjote Gill

I've been traveling the world for 6 months and I use the same trick in any city I visit to make sure I find amazing food

Harrison Jacobs

GOLDMAN SACHS: Chinese tech giants are dominating North America in VC funding for the first time, and it could be the start of an unprecedented boom

Ethel Jiang

China's Ant Financial just raised the biggest funding round in history

Sam Shead

China is waging war against a cafe because it served coffee to Taiwan's president

Alexandra Ma

I spent 6 weeks in China - here are 5 things the country does infinitely better than the US

Harrison Jacobs

Popular Keywords

Buying Guides