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Belt & Road Weekly

Business Brief -- Foreign Enterprises

January 25, 2019


Abstract : Business Brief -- Foreign Enterprises

Shanghai Disney to build world's 1st Zootopia-themed land -- Shanghai Disney Resort is making its second major expansion in less than three years of operation, signaling the ambition of media conglomerate The Walt Disney Co to meet China's growing appetite for quality themed entertainment. The resort announced on January 23 the building of the world's first Zootopia-themed land in its latest park, featuring characters and stories from Disney's animated hit Zootopia. Construction will begin later this year for an unspecified opening date. The expansion will bring the total number of themed lands to eight in the Shanghai facility, which debuted in June 2016. (Source: China Daily)

Foxconn to hire 50,000 more employees despite big layoffs -- Foxconn Technology Group, the biggest assembler of Apple Inc's iPhones, said it was planning to recruit more than 50,000 positions on the Chinese mainland in the first quarter, amid reports of mass layoffs. The contract manufacturer indicated the reported changes in employee headcount were normal adjustments based on its global strategy and client needs, according to a statement released by Foxconn on January 22. The company said it continues to promote the transformation and upgrading of industrial internet and intelligent manufacturing, and is committed to the cultivation and skills upgrading of its employees. (Source: China Daily)

Airline to launch new direct US-China flights -- Delta Air Lines, an Atlanta-based major US carrier, said it is confident on the long-term growth potential of Sino-US aviation market and will continue to launch new flights, spurred by robust demand, despite the overcapacity of the market and the ongoing Sino-US trade dispute. In 2020, Delta plans to launch direct flights between Shanghai and Minneapolis, Minnesota, which will be the first direct flight that connect China and Minneapolis, the company said at a news conference on January 21. The launch of the flights is due to the approval by the transportation authorities of both countries. Delta plans to operate the flights with Airbus A350, and it is also the first carrier to use the aircraft for Sino-US flights, it said. (Source: China Daily)

IBM opens headquarters with R&D centers in Shanghai -- US high-tech firm International Business Machines (IBM) opened its new headquarters including research and development (R&D) centers in Shanghai on January 17. Located on the "AIsland" of Zhangjiang Science City in Pudong New Area, the new headquarters include the company's China Research Lab, China Systems Lab and China Development Lab. IBM is the first company to settle down on the "AIsland," and China is one of the three countries where the company has settled all the three R&D centers.

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