China's two Internet giants Sina Weibo and its rival Tencent WeChat have rolled out new products with more commercial functions, marking the escalation of competition in the Chinese mobile Internet market.
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The Twitter-like microblogging service Sina Weibo, which received USD 586 million in investment from China's e-commerce giant Alibaba in April, launched its Taobao-friendly version on Monday. It allows users to log into the online shopping platform Taobao.com via a Weibo account, check prices, credibility and popularity, make payments and share with friends.
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Also on Monday, Tencent rolled out an iOS update to its popular talk-and-text app WeChat, featuring payment services, a games center and a sticker store in a bid to monetize the free app. A WeChat-customized subscriber identification module (SIM) card was also released in collaboration with telecom giant China Unicom.
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"The launch of commercial-oriented products of the two Internet giants mark the heating up of competition on the mobile Internet commerce market, and it heralds reforms in the e-commerce industry," said Cui Kai, senior analyst with Upperplus, a domestic Internet research and consulting firm.
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Since 2012, Sina Weibo has been marching with its commercialization push by taking a series of profit-making steps such as focused interactive advertising, social networking games, real-time search functions and e-commerce platforms.
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In its latest version for mobile users, Sina Weibo updated with similar bar-code-scanning function in late July, signaling its move towards mobile Internet commerce.
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Zhejiang-based online snack shop Bee & Cheery, one of the first business users to try the Taobao-friendly Sina Weibo, said the service contributed to over 50 percent of their online shop's total traffic on Monday.
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In the meantime, as WeChat gains national as well as global popularity, Tencent took its first commercial move to monetize WeChat in an attempt to cash in on its 400 million-plus user base.Â