New Zealand milk processor reaches new supply agreement with Chinese company -- Synlait Milk Limited, the New Zealand Exchange NZX-listed milk processor, announced on Aug. 16 a new supply agreement with China's New Hope Nutritionals for production of their infant formula brands. The agreement secures a threefold increase from current volumes over the five-year period, said a Synlait statement. The New Zealand milk processor took a 25-percent stake in New Hope Nutritionals, located in southwest China's Sichuan Province.
Egypt sees sharp rise in trade volume with China -- The volume of trade exchange between Egypt and China recorded 5.178 billion dollars from January to June 2017, state news agency MENA reported on August 14. China's exports to Egypt decreased by 20.79 percent on a year-on-year basis to 4.518 billion dollars, MENA cited the latest statistics released by the Chinese General Administration of Customs as saying.
Ofo expected to hit Japan in September -- China’s largest bike-sharing company, Ofo, is partnering with SoftBank Commerce and Service for entering the Japanese market, the company said on August 9. Ofo will deploy its “eye-catching yellow bike” in Tokyo and Osaka this September in the initial phase, before expanding to other parts in Japan.
Xiaomi opens first retail store in Dubai -- Chinese smartphone manufacturer, Xiaomi (Mi), opened its first “Mi Store” in Dubai on August 10. This is the first retail store authorized by Xiaomi in the Middle East and Africa region. According to United Arab Emirates (UAE)’s media reports, Xiaomi’s internationalization pursuits have picked up pace as the company enters the Middle East market. At the same time, the company has also unveiled two new smartphones, namely Mi 6 and Mi Max 2.
Soros adds share positions in Alibaba Q2 -- Soros Fund Management LLC announced on August 15 that the company raised its share positions in Alibaba Group Holding by nearly 80 percent in the second quarter from the previous quarter. Soros owned overall 192,400 shares of the e-commerce giant’s stock after the share adding.
China's investment in Cleveland, Texas, set an example for future development: U.S. mayor -- The unique model of a large housing project in Cleveland, Texas, invested by a Chinese company, has set an example for the future development of the city, Mayor Otis Cohn said here on August 16. Invested by China's Dalian Yihai Enterprise group, the Grand Oak Reserve project is a 600 acre plus master-planned community, with housing, commercial areas, clubhouse and golf courses.
Chinese investor gets 80pct stake in Southampton FC -- A Chinese businessman has bought a major stake in Southampton Football Club. Gao Jisheng and his family are understood to have bought around 80 percent of the club from its Swiss owner, Katharina Liebherr. (Source: China Daily)
Ukraine seeks greater presence in China's agro products market -- Ukraine is interested in expanding the presence of its agricultural producers in the Chinese market, Ukraine's State Service for Food Safety and Consumer Protection said on August 15. In particular, this year, Ukraine plans to start exporting fish products and animal feeding stuff to China, the agency said in a statement following the 6th meeting of the subcommittee on agriculture cooperation of the Chinese-Ukrainian intergovernmental commission.
Alipay promotes cashless payment across EU -- Starting August 14, Chinese tourists can pay via Alipay to retailers who have a partnership with Barclays in UK. Chinese expats, students and tourists are expected to spend more than 1 billion pounds at such retailers in UK this year, news website Banking Technology said citing Barclaycard. (Source: China Daily)
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