The time for paid content in China is now: Douban Time goes live / China Film Insider
Douban, a popular Chinese social networking service website that focuses on film, books, music, culture, and events, has launched its first paid content feature, called Douban Time. The platform includes curated texts, images, and sounds from writers and creators in different fields. The first offering is a 102-episode poetry program in which poets and critics will give lessons in poetry appreciation, at a cost of 128 yuan ($18). WeChat, the most popular Chinese social media network, with more than 10 million public accounts and 650 million active users, is expected to launch its own paid content feature soon.
U.S. fines ZTE of China $1.19 billion for breaching sanctions / NYT (paywall)
ZTE, China’s second-largest maker of telecom equipment, agreed to plead guilty for violating U.S. sanctions against Iran and North Korea, the U.S. Department of Commerce announced today. The company will face $1.19 billion in fines. The penalty is the largest criminal fine ever levied in a U.S. sanctions case.
- Guo Shuqing on new mission to tackle banking woes / Caixin
- China’s imports surge in February, while exports miss estimates / Bloomberg
- China shuts Hershey-Lotte plant in latest missile spat response / Bloomberg
- China tries cure by committee for corporate debt hangover / Reuters
- China’s running out of time to cut excess capacity / Bloomberg