Kingsoft Pushes Cloud Computing Further with Cloud Bridge Technology: Like cloud computing isn’t vague enough, Kingsoft Kuaipan, the cloud storage arm of the software company announced launching a new cloud storage technology dubbed Cloud Bridge, which in a nutshell is something similar to Dropbox’s integration with Windows Explorer. After installing the latest Kuaipan into your computer, it will automatically integrate with your folder. So to upload files to your Kuaipan online storage space, you just need to drag the file into a specified folder. Job done. Kuaipan now supports PC, Android and iOS devices, claiming more than 10 million users.

China Telecom Invests $47.5M into E-Reading: China Telecom aimed to invest RMB 300 million (US$ 47.5 million) to curate its own reading platform for all kinds of terminals including smartphone, tablets, PC, TV and even its own ereader. The operator is also in talks with ISP out of china for potential partnership. China Mobile pulled in RMB 30 million (US$ 4.75 million) in total from ereading business since its launch in this January.

 

1800+ Group Buying Services Closed in H2: I remembered hearing one investor lectured at a small technology gathering that investing into group buying might be a bad choice in China now since the model somehow turned into unsustainable. Well, a report out lately evidenced his remark, saying that more than 1800 Chinese GroupOns were shut down in H2 of this year. Not a big surprise though and more is to be shut down in the months to come.