Doug Young

Corporate China | WEIBO TALK: Murdoch Back in China, Xiaomi's banner year

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News Corp Chairman Rupert Murdoch and LinkedIn China president Derek Shen in a photo Shen posted on his Weibo account on January 3. Photo: SCMP Pictures

Doug Young

Published: 10:39am, 6 Jan 2015Updated: 10:28am, 9 Jan 2015

Tech executives welcomed in the New Year with some intriguing hints on their microblogs, with posts suggesting major new moves in China from global media titan News Corp (Nasdsaq: NWSA) and online video operator LeTV (Shenzhen: 300104). In the former case, a local tech executive posted a photo of himself meeting with Rupert Murdoch in China, indicating the News Corp chief was back doing business in the country after a long absence. In the latter case, LeTV chief Jia Yueting was hinting that his company could soon become the latest Chinese Internet firm to enter the overheated smartphone market.

Meantime, incumbent smartphone sensation Xiaomi was also making its usual buzz in the cyber realm, announcing some impressive financial data for 2015. But its envious rivals weren't letting Xiaomi celebrate its banner year uncontested, with several predicting the company could face some strong headwinds in 2015.

Let's begin our weekly microblogging round-up with the Murdoch photo, which was posted by Derek Shen, China chief of professional networking website LinkedIn (NYSE: LNKD), which launched a China service last year. (microblog post) The photo shows Murdoch and Shen standing together in the offices of China Broadband Capital (CBC), which has become one of China's highest profile media investors.

CBC's investment portfolio includes both LinkedIn, and also the Chinese-language TV station that was once News Corp's biggest investment in the country. Murdoch sold the station to CBC in 2010 after years of frustration, and appeared to be largely writing off the difficult market in 2013 with his high-profile divorce of his much younger, China-born wife Wendi Deng. But this latest photo indicates he's still taking time to travel to China, and hints he was here to discuss business.

Shen talks mostly about Murdoch's personal qualities in his brief post accompanying the photo, saying that despite being 84, the News Corp chief still walks tall, thinks clearly and takes careful notes when discussing new projects. The fact that Shen took part in the meeting, which was facilitated by CBC, hints that some kind of tie-up could be under discussions for the trio. Shen also has ties to struggling SNS site Renren (NYSE: RENN), as well as online search leader Baidu (Nasdaq: BIDU) through his previous venture, the group buying site Nuomi.