ICBC opens business center in U.S. city of Houston -- The Industrial and Commercial Bank of China (USA) on October 10 opened a business center in this U.S. city, the first one of a Chinese bank in the southern United States. The new branch will serve Houston, as well as other places across the southern United States, ICBC Senior Executive Vice President Hao Hu said at the opening ceremony.
Alibaba announces plan to build global logistics network -- Alibaba Group recently announced that it would invest 100 billion yuan over the next five years and increase the shareholding in its delivery arm Cainiao to advance its new retail strategy, marking that Alibaba is rapidly building a global logistics network. Alibaba will invest 5.3 billion yuan this time under the agreement to boost its equity in Cainiao from 47 percent to 51 percent.
Chinese company signs deals to modernize highways in Ukraine -- The private Chinese company Xinjiang Communications Construction Group Co. Ltd has signed two agreements with Ukraine's state road agency Ukravtodor on the modernization of state highways in western and central Ukraine. The deals worth 95 million U.S. dollars were signed in Ukraine's Infrastructure Ministry by Shen Jinsheng, the chairman of the Xinjiang Communications Construction Group, and Slavomir Novak, an acting head of the Ukravtodor.
Chinese courier companies raise prices ahead of "shopping festival" -- Two major Chinese courier companies announced price hikes on October 10 and October 11 ahead of November 11, which will see China's largest online shopping festival. ZTO Express and Yunda Express said the aim is to provide better services amid rising labor, material and transportation costs.
Chinese automaker BYD unveils North America's largest electric bus factory -- Chinese carmaker BYD unveiled October 6 its expanded battery-electric bus manufacturing facility, North America's largest, in the U.S. city of Lancaster in southern California. BYD, which stands for "Build Your Dreams," is also the world's largest manufacturer of rechargeable batteries. The company's electric bus, supported by its solar panels, LED lighting and energy-efficient technologies, is able to run over 248 kilometers after a single charge, which is among the longest in the world.
ZTE becomes PGA Tour's 1st "official smartphone" -- The PGA Tour announced that ZTE has signed a three-year marketing agreement to become its first-ever official smartphone. The deal, which includes global rights through 2020, was officially signed by PGA Tour Commissioner Jay Monahan and ZTE Mobile Devices CEO Lixin Cheng on October 4 at Silverado Resort and Spa in Napa, California, where the Safeway Open begins the 2017-18 PGA Tour Season.
CDB channels more than 50 billion USD to Africa in first half 2017 -- China Development Bank (CDB) accumulatively extended loans of more than 50 billion U.S. dollars to 43 African countries in the first half of this year. Wang Yongsheng, vice president of CDB, said October 5 that the capital has been used to support the development of agriculture, manufacturing industry, and infrastructure and to improve people's livelihood.
Private firm from Qinghai-Tibet Plateau enters African construction industry -- Taking advantage of the opportunities of the Belt and Road Initiative, Tang Guozhong, chairman of a private firm in southwest China's Tibet Autonomous Region, has successfully expanded his company's business to Africa. From the Qinghai-Tibet Plateau, known as the "roof of the world", to the Ethiopian plateau, or the "roof of Africa", Tang described the move as a giant leap for Libo Construction Co.,Ltd, which he founded in 2006.
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