Business Brief -- Chinese Enterprises

Linklogis, Standard Chartered sign memorandum of understanding -- Shenzhen-based Linklogis and Standard Chartered have signed a memorandum of understanding to enhance the latter's supply chain financing proposition and deepen client relationships in China. The strategic partnership reflects both parties' ongoing commitment to the sustainable growth of China's economy and support for its financial reform and innovation.

JD buys Beijing Jade Palace Hotel for USD398mln -- Chinese e-commerce giant JD has acquired Beijing Jade Palace Hotel for 2.7 billion yuan (397.6 million U.S. dollars), with an aim of transforming the five-star property into a new office building and innovation center. The Nasdaq-listed company said on February 11 it bought 100 percent ownership of the hotel, which is located near a batch of universities and Zhongguancun Science Park in the capital. (Source: China Daily)

Geely, Beijing Hyundai auto sales hit record high in Jan. 2019 -- Zhejiang Geely Holding Group and Beijing Hyundai Motor, two automobile companies in China, posted outstanding performances in the first month of 2019.  According to Geely, its auto sales hit record high at 158,393 vehicles in January, up two percent year-on-year, contributing more than ten percent of the group's annual sales target of 1.51 million vehicles for 2019. The sales also included LYNK&CO cars sold by a joint venture in which Geely owns 50 percent of equity, according to Geely.

Suning.com to acquire Wanda department stores in offline retail expansion -- Chinese e-commerce giant Suning.com will acquire all Wanda Department Stores to expand its offline presence and improve their shopping experience, the company announced on February 12. The acquisition is expected to promote an online-to-offline retail ecosystem and facilitate merchandise supply chain reform, boosting profits of its retail businesses, the company said in a statement. The 37 outlets of Wanda Department Store, with over four million registered customers, are mainly located in downtown areas in first- and second-tier cities.