Top China Stories Today

Sina Weibo Claims 250M+ Users: Charles Cao, CEO of Chinese portal site Sina announced Sina Weibo the twitter-like service has surpassed 250 million users with more than 100 million posts popping up every day. He said that Sina Weibo has now reached juvenile period with more power to be capitalized on.

Jiayuan Topped Best China Concepts Stocks: Jiayuan topped a chart by financial vertical Cnanalyst.com regarding China Concepts Stocks with upside potential. Youku and Melco Crown Entertainment Ltd. came in second and third respectively. Other Chinese companies made it to the list include: Qihoo360 (4th), Dangdang (5th), Bona Film Group (6th), Baidu (7th), China Unicom (8th), Noahedu (9th) and NetQin (10th).

Sina iAsk Accounts Compromised: Rising, one of the largest online security vendors in China announced lately that Sina iAsk, the search arm of Sina was hacked through SQL injection flaws with more than 70 million accounts being compromised.

Nokia Moving Asia-Pacific HQ to Beijing: Nokia, the beleaguered mobile giant announced yesterday moving its Asia-pacific headquarter from Singapore to Beijing as part of its broader move to improve operating efficiency and cut down costs. The Finland company has shedded off more than 10,000 headcount in last year.

Kaixin001 to Open API for Ecommerce Sites: Kaixin001, the Chinese social networking service is opening its APIs to all Chinese ecommerce sites, a move to dive deeper into social ecommerce forefront. The company which is currently suffering from plummeting traffic started developing the service since earlier last year, the first version of the service didn’t live up to their expectation thus was delayed for a revamp. Kaixin001 hopes to cooperate with ecommerce sites in a way that these etailers could leverage on its friends graph for marketing/promotion purpose to facilitate transaction.