Alibaba, Tencent lead 1.5 bln USD investment in media group CMC -- Chinese media and entertainment group CMC Inc. on July 3 said it had raised nearly 10 billion yuan (1.5 billion U.S. dollars) from investors, including Internet giants Alibaba and Tencent, and property developer China Vanke. Founding shareholders Alibaba and Tencent and new investor China Vanke led the A-round fundraising that values CMC at nearly 40 billion yuan.
Bollore Group reached global partnership with Alibaba -- French conglomerate Bollore Group announced on July 2 in Paris that it had reached global partnership with Chinese e-commerce giant Alibaba to cooperate in such fields as cloud services, innovation and digital transformation, smart and green travel and logistics. Alibaba Cloud, the cloud computing arm and business unit of Alibaba Group, will provide Bolure with complete solution including cloud computing, big data, artificial intelligence and so on.
Techcent Environment U.S. subsidiary undertakes sludge treatment upgrading project -- Chengdu Techcent Environment Co. (300362.SZ) announced on July 2 that its U.S. holding subsidiary Centrisys Corporation had undertaken a sludge treatment upgrading project for a sewage treatment plant under the Denver water authority of Colorado, the United States. Centrisys's AirPrex-centrifuge process portfolio has been approved by Denver water authority.
Agency aims to link Scottish companies with Chinese opportunity -- British businesses keen to tap into the Chinese market can get a helping hand through what is believed to be Scotland’s first dedicated Chinese marketing agency. EastWest Agency has offices in Edinburgh and the Chinese cities of Chengdu and Shenzhen and offers expertise in market research, business strategy and planning, digital marketing, and lead generation for companies and business wanting to build an understanding of the Chinese market. (Source: China Daily)
Qifeng New Material to invest USD160mln in Kazakhstan -- Qifeng New Material Co.,Ltd. (002521.SZ) announced on July 3 that it had inked project roadmap with Kazakh Invest National Company and Taldy Kurgan to build a 200,000-tonne reed pulp paper project in Kazakhstan Investment in the project is estimated at 160 million U.S. dollars.
Athleisure brand SKECHERS sees fast growth on China market -- Global athleisure brand SKECHERS has seen fast sales growth in China since it entered the market 10 years ago. The company's sales in the Chinese market grew 73 percent annually on average during the past decade, with sales volume surging from 74 million yuan (11.2 million U.S. dollars) in 2008 to 10.43 billion yuan in 2017, according to Willie Tan, SKECHERS CEO for the Chinese mainland, Hong Kong, Republic of Korea and Southeast Asia markets.
German retailer Breuninger accepts Alipay and WeChat Pay -- German chain retailer Breuninger announced on June 29 to offer two Chinese mobile payment options, Alipay and WeChat Pay, in all its eleven department stores to attract more Chinese customers. Breuninger thus becomes the first German department store that introduces these two leading Chinese digital payment platforms, according to the company announcement.
Alibaba overtakes IBM as the world's No. 4 in cloud computing -- The leading Chinese e-commerce player Alibaba overtakes IBM as the world's fourth-biggest provider of cloud computing infrastructure and services in the first quarter, according to the latest report from Synergy Research Group, an IT market data provider. Alibaba Cloud's international operations are registered and headquartered in Singapore, with branches in Dubai, Frankfurt, Hong Kong, London, New York, Paris, San Mateo, Seoul, Singapore, Sydney and Tokyo. The company is also expanding its service into countries and regions along the Belt and Road route.
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