Tom Group has announced that it will invest HKD60 million to acquire the remaining 35% stake in its affiliate company Tom Outdoor Media Group from Singapore Press Holdings.

After days of rumors and press releases surrounding possible acquisitions of China's beleaguered wireless value-added services firm Hurray, the company has issued a statement about where it stands on the issue.

Chinese wireless value-added services firm KongZhong Corporation says total revenues for the first quarter of 2009 increased 38% year-over-year and increased 11% quarter-over-quarter to USD29.6 million as the company announced its unaudited first quarter 2009 financial results.

The Chinese B2B e-commerce platform Toocle.cn of NetSun has announced that its joint venture co-founded with China Telecom has been formally established in Hangzhou.

U.S.-headquartered non-profit software industry organization Business Software Alliance has revealed that the software piracy rate in China has decreased from 90% in 2004 to 80% in 2008.

China's Tencent Holdings Limited announced the unaudited consolidated results for the first quarter of 2009 ended March 31, 2009, and stated total revenues were CNY2.50 billion, an increase of 19.4% over the fourth quarter of 2008 and an increase of 74.8% over the first quarter of 2008.

In a letter to shareholders of Chinese wireless value-added services firm Hurray, Best Prospect Overseas Limited has stated that Hurray's management and board "seems to believe that they do not need to answer, or even listen, to Hurray!'s shareholders".

The Beijing Municipal Business Commission has issued a circular which encourages retailers to set up online stores.

Taiwan-based electronics giant Hon Hai Precision Industry has announced its performance for April 2009 and said its non-combined revenue was NTD94.407 billion during the period, a decrease of 8.22% compared with its NTD102.865 billion revenue in the same period of 2008.

MediaTek, the Taiwan-headquartered semiconductor company for wireless communications and digital multimedia solutions, has announced plans to invest USD2.5 million in the Chinese mainland mobile phone software platform company, Vogins Technology.

Hong Kong, China (May 12, 2009) /ChinaNewswire.com/ — A major new event for Asia Pacific's retail market, Retail Asia Expo & Congress 2009 will be held at the Hong Kong Convention & Exhibition Centre from June 24 to 26th. It expects an attendance of over 10,000 of the most powerful and influential retailers, brand [...]

Chinese online travel firm Ctrip.com International Ltd. says its profit was up 23% year-on-year as the company today announced its unaudited financial results for the quarter ended March 31, 2009.

Chinese Internet classifieds and online job recruitment website company 51job Inc. reported its unaudited financial results for the first quarter of 2009 ended March 31, 2009, and stated total revenues decreased 24.6% year-on-year to CNY178.3 million, with both print and Internet advertising showing great declines.

Having launched its first batch of 3G network interface cards, China Telecom will soon start the commercial operation of its 3G mobile phone services and the company has already launched a user experience activity in Beijing, in which 2,000 users will be the first to experience China Telecom's 3G services.

According to Qiu Changheng, vice president of Alipay, China's first e-commerce credit system is expected to be launched by the end of 2009 and the system will fully cover small and medium-sized enterprises and individual users.