China Outbound Mixer with Tencent and Evotech Capital at The Hive on August 30

emergingchina

On Friday, August 30th from 6:30 p.m. to 8:30 p.m., Emerging China and Angelvest Group will hold a cocktail with speakers from Tencent (Developer of QQ and WeChat) and Evotech Capital.

Mr Basillio Chen, author of M&A in the US for Chinese Companies will give an overview of recent trends in Chinese outbound investments and Jack Lau, Head of Tencent’s Mobile International Business, will share some of Tencent’s global expansion experience.

  • Cocktails and Networking begin at 6:30pm and Discussions at 7:15 p.m.
  • Date/Time: 6:30 – 8:30 p.m., Friday August 30th, 2013
  • Venue: The Hive, 21st Floor, The Phoenix Building, No. 23 Luard Rd., Wanchai, Hong Kong. see: Location.
  • Cost: HK$200 per person* (cash only, pay at entrance) *Two beverages and finger food

Please RSVP Here.

Groupon’s China Site Big in Visits, Behind in Sales

Groupon’s China Site Big in Visits, Behind in Sales

高朋团购--低折扣的餐饮、SPA、健身、美容 - GaoPeng.com

About a month after offering its first discounted deals, Groupon’s China site is attracting big user numbers, but still lags behind the local competition in sales, according to a group-buying aggregator in the country.

The U.S. company’s site at GaoPeng.com represents its push into China, which has 457 million Internet users. Groupon is already popular in the U.S. as a promoter of group buying, a new form of e-commerce that is also taking off in China. Group buying works by featuring steep discounts on goods. Enough users, however, must buy into a deal in order for it to be offered to all who purchased it.

While Groupon has achieved success in the U.S., China’s group buying market is already filled with domestic competitors. The country now has 4,015 such sites, all of different scope, with some focusing on certain cities, according to group-buying aggregator Tuan800.com, which offers an online portal to group-buying sites.

China is a hard nut to crack. Very different market to many other places.