Tencent reports 24 pct revenue growth in Q3 -- China's Internet giant Tencent on November 14 posted 24 percent year-on-year revenue growth in the third quarter, raking in 80.6 billion yuan (around 11.6 billion U.S. dollars). Advertising, digital content, payment and cloud services have become Tencent's main sources of revenue, according to Pony Ma, CEO of the Shenzhen-based company. Net profit rose 15 percent year on year to reach 19.7 billion yuan during the period.
China's Zotye Auto to sell SUVs on U.S. market in 2020 -- Zotye Automobile, a Zhejiang-based privately-owned automaker in east China, is planning to launch at least two SUVs on the U.S. market in 2020, local media Detroit News reported on November 14. As auto giant Ford Motor's newest Chinese partner, Zotye is partnering with California-based startup HAAH Automotive Holdings to look beyond its home market and form a new sales distribution company in the United States known as Zotye USA.
China supercomputer manufacturer demonstrates its new energy-efficient system -- Chinese supercomputer manufacturer Sugon demonstrated its new high performance computer called Silicon Cube at an on-going international supercomputer conference in Dallas.
Silicon Cube adopted the phase-change liquid cooling technology with the high energy efficiency, reducing the power usage effectiveness to 1.04.
ICBC opens representative office in Vietnam -- China's largest State-owned commercial bank by assets officially opened a representative office in Ho Chi Minh City, Vietnam, on November 12. The establishment of the new organization will further refine the business layout of Industrial and Commercial Bank of China Limited in Vietnam. It will also enhance the bank's cross-border financial service capability for countries involved in the Belt and Road Initiative and member states of the Association of Southeast Asian Nations. (Source: China Daily)
China's UnionPay to enter Ukrainian market -- UnionPay International (UPI), a subsidiary of China UnionPay, will enter the Ukrainian market, Ukrainian central bank said in a statement on November 13. The National Bank of Ukraine (NBU) has already defined the conditions and procedures for UPI activities in Ukraine, the statement said.
Alibaba Singles' Day sales hit 31 bln USD -- China's e-commerce giant Alibaba on November 12 said the Singles' Day sales on its online shopping platforms reached a record 213.5 billion yuan (30.7 billion U.S. dollars). The total sales on its platforms including Tmall and Taobao on November 11 represented an annual increase of about 27 percent from 168.2 billion yuan a year ago, Alibaba said.
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