Chinese application service provider UC says it will sue Tencent, the Chinese Internet giant, for alleged unfair competitive practices.

Chinese social networking website Renren.com has announced that it will launch an interest-free housing scheme, and employees can apply for loans of between CNY200,000 and CNY400,000.

Chinese B2B e-commerce group Alibaba has announced plans to launch a CNY3 billion housing loan scheme for its employees and a CNY500 million education fund to solve the preschool and primary education problems of children of its employees.

China's Ministry of Industry and Information Technology has published a report on Chinese telecom services for the second quarter of 2011, stating that 15,025 complaints were accepted during the period, a quarter-over-quarter decrease of 0.9%.

The Ministry of Industry and Information Technology of China has recently issued opinions on regulating the marketing activities of telecom operators on university campuses.

In the middle of flak concerning alleged securities fraud, Chinese financial services software firm Longtop Financial Technologies Limited announced that its chief financial officer, Derek Palaschuk, who was previously CFO at Chinese Internet firms Sohu.com and eLong.com, has resigned.

The chief executive officer and chief operating officer of Chinese e-commerce behemoth Alibaba.com Limited have resigned after the company admitted that about 100 of its own sales people were involved in allowing fraudulent storefronts on its international online marketplace.