New IKEA store to be built in east China -- A new outlet for furniture retailer IKEA will be built in Xuzhou City in east China's Jiangsu Province. Workers have broken ground for the store in the Xuzhou Economic and Technological Development Zone. The store, expected to open in the summer of 2018, will cover an area of about 4.6 hectares, with an operation area of about 3.5 hectares.
China's Fosun Pharma to acquire 74 pct stake in Gland Pharma -- China's Fosun Pharmaceutical (Group) plans to acquire a 74 percent stake in Indian injectables manufacturer Gland Pharma for nearly 1.1 billion U.S. dollars. The current offer includes a payment capped at 25 million dollars for Gland's sales of Enoxaparin in the United States, according to a statement from Fosun on September 17.
Nestle, JD.com unveil China's first AI nutrition assistant -- Global food and beverage giant Nestle launched its own artificial intelligence (AI) product with Chinese e-commerce platform JD.com on September 19, in a move to meet the demands of increasingly tech-savvy Chinese consumers. Nestle XiaoAI, an AI family nutrition assistant, is a smart speaker equipped with nutrition and health knowledge that can answer questions from users on custom recipes, music and nutrition.
London Tech Start-Ups visit China to explore new opportunity -- Eight of London's fastest-growing tech companies are in China this week in a drive to forge stronger trade links, win new business opportunities and show that London is open for business, London & Partners, the Mayor of London's official promotional agency, said on September 19. The eight entrepreneurs are visiting Shanghai, Shenzhen and Hong Kong as part of an international trade mission organized by the Mayor of London's International Business Program (MIBP).
China's Alipay cooperates with Thai commercial bank -- China's Alipay and Thailand's Kasikorn Bank said on September 16 at Bangkok tourist hotspot Jatujak Market that they will enhance their cooperation in promoting QR code payment in Thailand. The Thai Bank has already developed a mobile app which supports QR code payment for the Thai market. Chinese tourists can use Alipay app to scan the QR code generated by the Kasikorn app to complete the buying with Thai sellers.
China-invested PV power station enters operation in Russia -- A 15-megawatt photovoltaic power station, with investment from China-based Sirius Holding Group, has been put into operation in Astrakhan, Russia. The station generates 15,000 kilowatt-hours of electricity per hour.
Finnish authorities to help promote Alipay -- Chinese digital payment platform Alipay has got the endorsement by Finnish authorities to promote the use of the paying method. Finpro, an umbrella organization comprising sectors that promote tourism, investment and export for Finland, signed a memorandum of understanding (MOU) with Alipay on September 18 to enhance the cooperation.
Mobike enters the United States -- Mobike, one of China biggest bike sharing brands, announced its entry into the U.S. market on September 20 in a company statement. Mobike's signature silver and orange dock-less bicycles are now on the streets of Washington D.C., making the United States the company's seventh overseas market, following Britain, Italy, Japan, Singapore, Thailand and Malaysia.
China eyeing fourth UK nuclear project -- Chinese nuclear power giant China General Nuclear Power Corp said on September 18 it is exploring a bid to invest in Toshiba's troubled 15-billion-pound ($20 billion) nuclear power station on the Cumbrian coast in northwestern England. Huang Xiaofei, a spokesman for CGN, told China Daily the company is prepared to bid to make an equity investment in NuGeneration, the company behind Moorside, utilizing CGN's more than 30 years of experience in nuclear design, construction and operation to support the UK nuclear industry's development. (Source: China Daily)
Huawei plans to boost market share in Kenya -- China's Huawei said on September 18 it plans to foster all small segments in order to boost its market share in Kenya. Huawei Technologies Kenya Managing Director Derek Du told Xinhua in Nairobi that the multipronged approach will enable the firm to maximize sales."Previously we focused either on the low-income or high-end segment, but now our new strategy will see us to focus on all consumer segments due to our large handset variety," said Du. In 2016, the technology firm had a 14 percent market share.
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