{"id":7711,"date":"2011-02-21T02:02:06","date_gmt":"2011-02-21T02:02:06","guid":{"rendered":""},"modified":"2011-02-21T02:02:06","modified_gmt":"2011-02-21T02:02:06","slug":"Tech-Companies-A-Model-for-China-","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=7711","title":{"rendered":"Tech Companies: A Model for China?"},"content":{"rendered":"

Two Chinese tech companies show that they\u2019re leading the pack, albeit in very different ways. China\u2019s answer to Facebook, Renren.com, is mulling a potential U.S. IPO. If the track record of other Chinese tech stocks listed in both the U.S. and Hong Kong is anything to go by, investors have a lot to get excited about, particularly if Renren.com goes public before its Western peers do, which would make it the first social-networking site to go public.<\/strong><\/p>\n

But not all is well in the fast-growing Chinese tech sector as the problem of fraud rears its head in one of the country\u2019s most well-known and respected companies. Alibaba.com Ltd. said in a filing to the Hong Kong stock exchange on Monday that it has appointed a new chief executive to replace David Wei Zhe after he resigned following an internal investigation into fraud at the company. The company\u2019s chief operating officer, Elvis Lee, also resigned.<\/p>\n

The investigation found that 100 sales people, out of a sales force of 5,000, defrauded customers through fradulent storefronts which were \u201ceither intentionally or negligently\u201d allowed to evade the company\u2019s authentication measures. \u201cThe investigation concluded that the pursuit of short-term financial gain at all cost had tainted parts of our sales organization, risking serious damage to our Company\u2019s core values,\u201d said the statement.<\/strong><\/p>\n

SOURCE<\/a>
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Two Chinese tech companies show that they\u2019re leading the pack, albeit in very different ways. China\u2019s answer to Facebook, Renren.com,<\/p>\n","protected":false},"author":1213,"featured_media":72448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[],"tags":[],"class_list":["post-7711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg","medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","medium_large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","1536x1536":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","2048x2048":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-highlighted-post":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-featured-post-medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-featured-post-small":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x90.jpg","colormag-featured-image":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-default-news":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg","colormag-featured-image-large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-block-extra-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-small-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-medium-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg"},"magazineBlocksPostAuthor":{"name":"Joshua","avatar":"https:\/\/secure.gravatar.com\/avatar\/62ee23f8f40307578d1f284ecd823d77f32da8ea35541e7dbdafeb5da1a4e877?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"3","magazineBlocksPostExcerpt":"Two Chinese tech companies show that they\u2019re leading the pack, albeit in very different ways. China\u2019s answer to Facebook, Renren.com,","magazineBlocksPostCategories":[],"magazineBlocksPostViewCount":214,"magazineBlocksPostReadTime":2,"magazine_blocks_featured_image_url":{"full":["https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg",113,170,false],"medium":["https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg",113,170,false],"thumbnail":["https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg",113,150,true]},"magazine_blocks_author":{"display_name":"Joshua","author_link":"https:\/\/asiancemagazine.com\/?author=1213"},"magazine_blocks_comment":3,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/62ee23f8f40307578d1f284ecd823d77f32da8ea35541e7dbdafeb5da1a4e877?s=96&d=mm&r=g","magazine_blocks_category":"","_links":{"self":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/7711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/users\/1213"}],"replies":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7711"}],"version-history":[{"count":0,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/7711\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/media\/72448"}],"wp:attachment":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}