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  • ofo: A Over $700 Million in E Round of Financing Completed

    On the morning of July 6th,ofo announced that a over $700 million in E round of financing has completed after Mobike’s $600 million fund finished. Alibaba, Hony Investment and CITICPE jointly invested, and followed by Didi Chuxing and DST, CEC CAPITAL as the exclusive financial adviser. Actually, Dave, CEO of ofo, has said that E round was nearly finished at the end of June, and the money will be use to expand, and he also referred to, by the end of this year, ofo plans to provide with 20 million mobikes and cover around 200 cities in 20 countries(Japan,Spain,France, Germany,etc.except for some countries ofo already expanded, like America, UK, Singapore) For now, ofo has covered over 120 cities, and has over 6.5 million mobikes, and about 25 million daily orders.

    >> Read More 2017/7/6 13:41:37

  • Coca-Cola North China production base put into operation

    The first phase of a Coca-Cola production base went into operation Friday in North China's Hebei province. Currently, a five-hectare area has four production lines and an annual production capacity of 100 million unit cases (one unit case is 5.678 litres). Once the entire project is completed, it will be able to make 250 million unit cases annually. The base, covering more than 13 hectares, is located in Hebei's Xianghe county and has joint investment totalling 350 million yuan ($51 million) from COFCO Coca-Cola Beverages and Tianjin Bohai Light Industry Group. After completion, it will have nine production lines and is expected to meet demand in the Beijing-Tianjin-Hebei region for the next 15 years. This is the second COFCO bottling factory in Hebei and its biggest investment. China is Coca-Cola's third biggest market worldwide, and COFCO became its first bottling partner after the company returned to China in 1979.

    >> Read More 2017/5/4 11:27:22

  • Huawei Spain joins Spanish confederation of business organizations

    China's telecoms giant's branch in Spain, Huawei Spain, joined the employers' organization, the Spanish Confederation of Business Organizations (CEOE), it was reported Thursday. Huawei Spain CEO Tony Jin Yong and the president of the CEOE Joan Rosell signed an accord to this effect here, highlighting how the agreement will help the company participate actively in CEOE affairs. Jin Yong said joining CEOE "is a further demonstration of our promise to continue in the Spanish market and it is a tool to consolidate our strategy of cooperation, innovation and growth in Spain." Rosell said it was an "honor" for CEOE to have Huawei Spain join their ranks, as it is "one of the leading companies in technological and innovative solutions."

    >> Read More 2017/5/2 10:34:03

  • Hollywood talent agency looks to expand brand in China

    China's link with Hollywood is about to get even stronger. One of the biggest talent management firms in the world is setting up a new venture in Beijing. Creative Artists Agency (CAA), which represents some of the world's most famous names, is launching a new agency in the Chinese capital, following others who have done the same. CAA is working with CMC - a major Chinese investment firm, which already has stakes in Oriental DreamWorks and Warner Brothers among others. "The industry overall is changing. It's becoming more of a global marketplace, and the Chinese market is now number two for film and television as it is. So with the growth in the Chinese market and the global nature of our business, it's a perfect match," Kathryn Arnold, a Hollywood movie industry expert said. China has been buying up Hollywood studios for years. Dalian Wanda now owns AMC Theaters in the US and "Jurassic World" producer, Legendary Entertainment. CAA's had an office in Beijing for 12 years. Big stars like Lin Chi-ling and Donnie Yen, already on its lists. Hollywood studios have just negotiated a better deal to get their films shown in Chinese theaters. "La La Land" has been released in China, ticket sales really giving its makers something to sing about.

    >> Read More 2017/4/28 11:18:09

  • Coca-Cola China releases sixth sustainability report themed ‘We Care’

    Coca-Cola China on March 29 released its 2014-2016 sustainability report with the theme "We Care." The report, which is the company's sixth sustainability report since its inception in 2006, shared the company's practices and achievements in promoting sustainability over the past three years.   According to the report, Coca-Cola's sustainability projects in China include supplying drinking water to disaster-affected areas, training female retailers, protecting the finless porpoise through water conservation efforts in the Yangtze River basin, helping treat polluted water at domestic farmhouse resorts as well as providing clean water and water purification equipment to rural schools.  "As one of the world's most admirable companies, The Coca-Cola Company is committed to creating long-term sustainable value for everyone connected to our business and in the communities we proudly serve. We care about development, but we care more about sustainable development. We have actively worked with our business partners, local governments and social organizations to launch over 20 sustainability initiatives in China," said Curt Ferguson, president of Coca-Cola Greater China and Korea, at the report's release event on March 29. The report's statistics show that the sustainability projects have yielded outstanding results. For example, by the end of 2016, Coco-Cola China had sent 13 million bottles of drinking water to 1.5 million victims of natural disasters, donated 170 million yuan ($24.7 million) to the Hope Project and established 121 schools in 29 provinces and regions in China, provided 1,096 sets of water purification equipment to 956 rural schools and provided training for 270,000 women.  According to Ferguson, the driving motivation behind Coca-Cola China's commitment and sustainability efforts is "We Care," as they always prioritize the needs of their customers and communities.  "We need a sustainable country and community in which we do business in. The business all starts with having a sustainable community, with people having jobs, the clean water and so forth. We can only achieve long-lasting development when the communities also realize their development goals," Ferguson said on March 29.  Ferguson also emphasized that workers in and related to the company all share the concept of giving back.  "When our people heard there was an earthquake and cases of water were needed to be given to the victims, they never flinched. Not only do our employees think that way, our suppliers, our distributors, our whole system is all energized by the concept of sustainability," he said.  Ferguson also stressed that the idea of sustainability is "built into everything we do."  "We grade our factories by how much energy they use and save. We look at how much water is used and we have made a pledge that we are going to replenish every liter of water we use," he noted, adding that sustainability is not something that's nice to do at the end of the book. Instead, it's built into the first chapter of how Coca-Cola does business.  Coca-Cola has grown quickly in China in recent years, but there is still plenty of room for improvement. "China is the third-largest global market for the Coca-Cola global system as well as one of the fastest-growing ones. We are confident in the huge potential of the Chinese market. We will work with different partners and leverage each party's strengths and abilities to continue our efforts in sustainability. We also call on more people who 'care about' sustainability to join in these efforts in a bid to develop the sustainability ecological chain and create shared value, so that we can all live in prosperity and good health," he said.

    >> Read More 2017/4/6 11:47:24

  • Amazon launches innovation center in Qingdao

    Amazon's cloud-computing arm has launched its first global joint innovation center in Qingdao, Shandong province. The Qingdao-Amazon Web Service Joint Innovation Center will provide cloud-computing services to global startups, according to Rong Yongkang, AWS global vice-president and AWS China executive director. "In the next five years, the center will work with the Qingdao government to support 750 innovation firms," he said, adding that it will also fuel the city's innovation and development. The new center will also work with the Qingdao government to set up a cloud-computing innovation institute to train professionals, Rong said. Located in the Licang district of downtown Qingdao, the center will be jointly operated by AWS, the Licang district government and local company Vancoo Commerce, which has raised 100 million yuan ($14.5 million) in funding to help startup high-tech companies in the fields of cloud-computing, big data and the internet of things. Cui Lei, vice-president of Vancoo Commerce, said: "We will partner with leading companies from home and abroad and leverage tech-driven ideas to help local enterprises upgrade their structure and go global." The company also plans to cooperate with the Licang district government to launch a 1 billion yuan fund that will support the Amazon center's innovation services. Steven Hoffman, CEO of United States-based business incubator Founders Space, said the new center may help Chinese entrepreneurs change their minds about innovation. With many years of experience working with Chinese entrepreneurs, he said "their weakness is that they always go after the obvious goal. When they see something working, everybody goes and rushes - very few of them take a different path to discover something different". "However, if China wants to be the true global leader in innovation, more entrepreneurs should take a harder path and pursue a brand-new idea even if they don't know where they are going," he added.

    >> Read More 2017/4/5 11:23:02

  • Apple Inc invests on research centers in China

    Apple Inc plans to invest 3.5 billion yuan (US$507 million) on research centers in China, including two new research centers in Shanghai and Suzhou. Through the four Chinese research centers in Beijing, Shenzhen, Shanghai and Suzhou, respectively, Apple will strengthen research and engineering capability, as well as the cooperation with local technology partners in China. The four centers will be opened “later this year”, according to Apple’s website today. Some employees and interns of the upcoming research centers will come from local elite universities, including Peking University and Tsinghua University. Currently, Apple has created 4.8 million jobs in China, 1.8 million iOS application developers and employees of its local offices and stores, the company said. The expansion in China is expected to help Apple gain market shares and influence in the domestic market, where China-brand Huawei, Oppo and Vivo dominate the smartphone market. They are developing flagship smartphones to challenge Apple and Samsung in the high-end market, analysts said.

    >> Read More 2017/3/21 10:43:42

  • Japanese duty free sales victim of Chinese traffic slowdown

    As reported, South Korean travel retailer Lotte Duty Free and its partners Bic Camera and New Kansai International Airport Company recently pulled out of a planned downtown duty free shop proposed for Osaka as a result of the slowing market. The partnership was due to open a 4,400sqm Lotte Duty Free Osaka store on the sixth and seventh floors of Bic Camera Namba in Osaka. The alliance was projected to generate sales of KW130 billion (US$109 million) during its first full year of operation in 2017. The ‘bakugai’ (‘buying explosion’) trend began in Japan in 2015 as Chinese travelling shoppers poured into Japan in waves, helping to drive a government-backed proliferation of tax and duty free stores. Like all bubbles, it appears this one has burst. According to The Japan Times, spending by foreign visitors for July-September 2016 fell, the first quarterly drop in over four-and-a-half years. Japanese downtown duty free retailers have been warning of a slowdown for months. In its first-half presentation last October,  J.Front Retailing Co noted a “rapid drop” in tax free sales to tourists. According to Nikkei Asian Review, the domestic market retail giant’s tax and duty free sales will fall -26.0% in the year ending 28 February 2017 to ¥25 billion (US$220.5 million). For the September through December period its department store sales, hit by the soft tourism market, fell -4.5% year-on-year. Notably, cosmetics was the only product sector to show growth. Nikkei Asian Review noted that the powerful trio of Japanese department store operators Isetan Mitsukoshi Holdings, J. Front Retailing and Takashimaya will generate combined tax and duty free sales of just over ¥100 billion (US$882 million) for fiscal 2016, a fall of around -14% year-on-year. It noted: “Japan’s department stores enjoyed year-on-year growth for 38 straight months until March 2016. Duty free sales soared 160% in the 2015 calendar year to around ¥194 billion (US$1.7 billion), of which roughly 60% came from the top three companies.” However, a combination of factors, notably the strong Yen, has dulled the market. According to Nikkei Asian Review, spending per tourist dropped around ¥13,000 (US$115) year-on-year to about ¥61,000 (US$538) in November 2016. “Inbound tourists recently have been attracted to face lotions priced around ¥5,000 (US$44) rather than brand items,” it noted.

    >> Read More 2017/1/19 10:54:00

  • Jack Ma chats with Trump on plan to create 1 M US jobs

    Jack Ma on Monday, when they discussed 1 million new U.S. jobs.   Ma said that Alibaba’s expansion would focus on products like garments, wine and fruits, with a special focus on trade between the American midwest and southeast Asia. “We’re focused on small business,” Ma told reporters. “We specifically talked about … supporting 1 million small businesses, especially in the Midwest of America. Small businesses on the platform selling products — agriculture products and America services — to China and Asia, because we’re pretty big in Asia.” Where those jobs would come from is unclear. While an Alibaba spokesperson told CNBC before the meeting that the Chinese online retail giant company would create 1 million jobs over five years, Ma’s comments focused on supporting small businesses. “Alibaba will create 1 million U.S. jobs by enabling 1 million American small businesses and farmers to sell American goods to China and Asian consumers on the Alibaba platform,” the company said in a statement. Like Etsy or eBay, Alibaba enables third-party sellers in China to take their own businesses to the web. The company only had 36,446 full-time employees, almost all in China, as of March 31, according to SEC filings. But with more than 10 million active sellers as of 2015, Alibaba estimates its China retail marketplaces “contributed to the creation of over 15 million job opportunities.” Amazon, by comparison, had about 230,800 employees as of the end of 2015, though it, too, creates other jobs through its sellers, contractors and supporting services. Wal-Mart, which is strengthening its online presence, employs 2.3 million associates around the world, including 1.5 million in the U.S., as of the end of fiscal 2016. Monday’s meeting was planned to focus on the Chinese e-commerce company’s U.S. expansion plans, according to spokespeople for both Alibaba and Trump. Ma had planned to be in New York on Monday and the scheduling worked out for the meeting at Trump Tower, a source told CNBC. “We had a great meeting, and a great, great entrepreneur, one of the best in the world, and he loves this country, and he loves China,” Trump said. “Jack and I are going to do some great things.” Shares of Alibaba’s stock rose 1 percent on Monday. The meeting came amid tensions between China and the incoming Trump administration. Trump has proposed steep tariffs on Chinese goods and has ired China over the U.S. relationship with Taiwan. Ma said that going through the business community will help the U.S. and China understand their political situation better. “We also think that the China and USA relationship should be strengthened — should be more friendly,” Ma said. “The door is open … [for] discussing the relationship and trade issues. I think the president-elect is very smart, he’s very open-minded to listen. I told him my ideas about how to improve trade, especially to improve small business, cross border trade. … [Trump] has concerns, and he has solutions, that he wants to discuss with China and us.” EMarketer estimates that there will be more than $150 billion in cross-border e-commerce sales in China by 2020. If an expansion is announced, Alibaba would be the latest in a string of companies to commit to create U.S. jobs in the wake of Trump’s election. Japanese tech giant Softbank, whose CEO Masayoshi Son is on Alibaba’s board, has reiterated a commitment to create 50,000 U.S. jobs after meeting with Trump. It’s unclear if the two announcements are related. CNBC has reached out to Softbank for comment.

    >> Read More 2017/1/10 16:45:57

  • Alibaba 'creates 30 million jobs'

    Alibaba Group Holding Ltd has achieved one-third of its pledged goal of creating 100 million jobs in 20 years, as the e-commerce giant sees 2017 as a crucial year to "redefine the real economy". The internet conglomerate, incorporating both its e-tail platforms and payment arm Ant Financial Services Group, paid 23.8 billion yuan ($3.42 billion) of tax in 2016 and has created a cumulative total of more than 30 million jobs since 2003, the Hangzhou-based firm said on Tuesday. The figures echoed what company founder Jack Ma advocated as "blurring the lines" between real and virtual companies. With China's employment rate surging, efforts by the likes of Alibaba in bringing employment flexibility into the economy should be well acknowledged, according to a report on job creation issued by Renmin University of China. Alibaba also invested more than 100 billion yuan in traditional industries, from bricks-and-mortar retail malls like Suning Commerce Group Co Ltd to domestic couriers such as Shanghai YTO Express (Logistics) Co Ltd. On the financial front, Ant Financial is empowering small and micro enterprises with easier access to loans. Its electronics payment platform Alipay has facilitated more than 600 million users globally to make payments and is quickly expanding into wealth management and credit scoring, based on big data backed by cloud technologies. The cloud business, which is the latest area that Alibaba is actively venturing into, has maintained a three-digit growth rate over the past six quarters, making AliCloud in the same league as peer services such as Amazon.com Inc's AWS and Microsoft Corp's Azure.

    >> Read More 2017/1/5 10:46:56