China's Yili Group upgrades its R&D center in Europe for innovation -- Inner Mongolia Yili Industrial Group Company Limited (Yili Group), one of the Chinese dairy giants, upgraded its R&D center in Europe to an innovation center at Wageningen University on September 12. At the upgrading ceremony, Zhang Jianqiu, executive president of Yili Group, pointed out that the upgrading from the R&D center to the innovation center shows Yili's continuous efforts in innovation.
Chinese online pharmacy, healthcare provider debuts on Nasdaq -- Chinese leading online pharmacy and healthcare service provider 111, Inc. started trading on Nasdaq stock market on September 12. As the bellwether of its kind in China, 111, Inc. issued 8.25 million American Depository Shares (ADS) with each share at 14 U.S. dollars, the low end of a price range of 14-16 dollars. The company planned to issue 9.3 million shares of ADS and raise 148.8 million dollars, according to the company's prospectus.
Alibaba's Nov 11 gala to be truly global -- Alibaba Group Holding Ltd is making its iconic Nov 11 shopping gala "a truly globalized event" by introducing massive presales activities and smart recommendation mechanisms to overseas buyers for the first time. AliExpress, a retail subsidiary of Alibaba that allows Chinese merchants to sell directly to foreign customers, will leverage social media and artificial intelligence capabilities to attract global consumers to spend big during the annual festival. (Source: China Daily)
China's Haier inks pact to set up second industrial park in India -- Chinese leading home appliances brand Haier on September 7 announced signing of a memorandum of understanding (MoU) with the government of India's northern state Uttar Pradesh, to set up its second industrial park. Under the agreement, Haier will set up its industrial park in the state over the next four years in two phases. The new industrial park, to come up nearly 30 miles away from New Delhi in Uttar Pradesh's Greater Noida area, is expected to begin operations by 2020.
China Southern plans to expand international network -- China Southern Airlines, the largest airline in Asia by fleet size, plans to launch routes between Beijing and Istanbul, Guangzhou and Thailand's Samui, Guangzhou and the Philippines' Cebu, and Guangzhou and Thailand's Krabi as it continues to expand its network. Also, it is studying the possibility of opening a route to Israel's Tel Aviv, said Zhang Chongyang, the airline's brand and marketing communication director. (Source: China Daily)
Russia diamond giant CEO expects long-term cooperation with more Chinese partners -- Russia's top diamond producer Alrosa hopes for long-term partnerships with more Chinese partners amid the rapidly growing Chinese jewelry market, said Sergey Ivanov, the company CEO in an interview with Xinhua. As one of the world's largest diamond producers, Alrosa has forged long-term cooperation with six large Chinese jewelry sellers and the turnover under long-term contracts jumped 18 percent in 2017, Ivanov said.
YTO Airlines launches Zhengzhou-Tokyo direct cargo route -- China's YTO Airlines on September 10 opened a direct air cargo route linking Zhengzhou, capital of central China's Henan Province, and Tokyo. This is the first all-freighter route between Tokyo and Zhengzhou, a major transportation and logistics junction in China, according to YTO Airlines.
Haidilao prepares for HK IPO -- Haidilao International Holding, Chinese mainland's biggest hotpot restaurant chain, will kick-start its IPO on September 12, planning to raise as much as 1 billion U.S. dollars from share sales. The Beijing-based company's forthcoming listing in the Hong Kong stock market follows that of Meituan-Dianping, a mainland online food delivery and booking giant, which began its listing last week for its potential 4.4 billion U.S. dollar IPO in the city. Pricing its range at 14.8 Hong Kong dollars to 17.8 Hong Kong dollars (1.88-2.26 U.S. dollars ) apiece, Haidilao is offering 424.5 million shares in total, 91 percent of which will be allocated to institutional investors, and the remainder allotted to the public. (Source: China Daily)
1st joint product by Malaysia's Proton, China's Geely to be open for booking -- Cooperation between Malaysian national car maker Proton and China's Geely is bearing fruit in Proton's first sports utility vehicle (SUV), which will hit the Malaysian market soon. The X70 SUV is the first joint product since Geely acquired 49.9 percent of Proton from Malaysia's leading conglomerate DRB-HICOM that owned 100 percent of Proton last year.
WeBank to build blockchain-based business ecosystem -- WeBank, China's first private and digital-only bank, said it plans to build a world-class blockchain-based business ecosystem, as the world's leading financial institutions start to explore feasible applications for the cutting-edge technology. Henry Ma, vice-president and chief information officer of the Tencent Holdings Ltd-backed e-bank, promised open-source code, free software and an open interface, in order to bring in partners from all industries. (Source: China Daily)
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