Chinese bike-sharing company Mobike launches service in Japan -- Mobike, one of China's largest bike-sharing companies, launched a bike-sharing service in Sapporo of Hokkaido prefecture on August 24, marking the bike-sharing giant's debut in Japan and another step to explore the overseas market. The first batch of some 100 bikes have been placed on parking spots provided by Mobike's local partners, and users could ride the bikes from August 23 after registering on the Mobike APP on their cellphone and tying their accounts with their credit card.
COFCO unit partners with US-based co-op -- China National Cereals, Oils and Foodstuffs Corp － the country's biggest food trader by sales revenue, confirmed that COFCO International Ltd, one of its subsidiaries, has formed a grain supply partnership with the Illinois-based farm cooperative Growmark Inc. The deal was sealed at Bloomington, Illinois on Aug 15. As part of the deal, they will jointly own and operate a truck, rail and barge terminal in Cahokia, Illinois, on the Mississippi River, the main pipeline that supplies exporters along the US Gulf Coast with corn and soybeans. The facility can receive about 180,000 bushels (4572.24 metric tons) of corn per hour, delivered by truck and rail, and can load two river barges simultaneously at a rate of about 60,000 bushels per hour. (Source: China Daily)
Urban Revivo targets London -- Chinese clothing brand Urban Revivo will open its first store outside Asia, in the United Kingdom, early next year as the "fast fashion" label expands. The company will roll out a branch in West London's Westfield shopping center in March, and then plans stores in Japan, France, the United States and the Middle East as part of a 600 million pound (792.5 million U.S. dollars) international expansion. Urban Revivo has 160 stores in China and one in Singapore. (Source: China Daily)
English education startup VIPKID raises USD200 mln -- Online children English education startup VIPKID announced on August 23 that it has finished the D round of financing and received an investment totaling 200 million U.S. dollars. Founded in 2013 and incubated by Cheung Kong Graduate School of Business, VIPKID focuses on teaching English through one-on-one video courses. It aims to integrate top language teachers from North America, and provide highly efficient English learning experiences to Chinese children aged between 4 and 12. (Source: China Daily)
Wanda pulls out of London deal -- Wanda pulls out of London deal -- Chinese conglomerate Dalian Wanda has pulled out of plans to buy part of the Nine Elms Square site in central London, which comes hot on the heels of the Chinese government's latest rules on investment in overseas deals. The company said it has transferred its interest in the 470-million-pound (603 million U.S. dollars) development to Hong Kong-listed R&F Properties and CC Land.
Chinese bike-sharing company Ofo enters Seattle -- China's bike-sharing company Ofo has launched services in Seattle, after acquiring the permission from local authority, according to a company press release on August 21. A total of 1,000 of Ofo's signature yellow bikes will be placed on the American city's streets, and the number is expected to grow to cater to the needs of Seattle residents and visitors.
Cambodian telecoms firm partners with China's Huawei to bring 4.5G service -- Cambodia's mobile telecommunications company Smart Axiata, in partnership with global ICT solutions provider Huawei, launched the 4.5G network in Cambodia on August 21. Cambodian Minister of Posts and Telecommunications Tram Iv Tek said Smart Axiata was the first telecom operator that introduced 4.5G evolution technology to Cambodia.
Alibaba to establish its northwest headquarters in Xi'an -- Alibaba's chairman Jack Ma announced on August 19 that his company was planning to establish its northwest headquarters in Xi'an to better support China's strategy of developing the west and the Belt and Road Initiative. Also on August 19, the Municipal Government of Xi'an and Alibaba Group entered into a strategic cooperation agreement. The two parties will tap the potential of "new retail" advancement in Xi'an for the purpose of speeding up the city's development, accelerating the supply-side structural reforms and nourishing new growth drivers.
Yunfeng Financial Group to acquire MassMutual Asia -- Yunfeng Financial Group, Ant Financial, SINA and five other companies have signed an agreement with MassMutual International for acquiring its Hong Kong-based company MassMutual Asia. The target is valued at 13 billion Hong Kong dollars (11.2 billion yuan). Yunfeng Financial agreed to acquire 60 percent of the stakes and other seven companies will purchase the remaining 40 percent.
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