Chinese conglomerate acquires Dow AgroSciences' corn seed business in Brazil -- The Chinese conglomerate of Yuan Long Ping High-Tech Agriculture Co., Ltd. And CITIC Agri Fund recently completed the acquisition of Dow AgroSciences' corn seed business, and renamed it as LP Sementes. Dow AgroSciences is a subsidiary of U.S. chemical giant Dow Chemical Co in Brazil. The 1.1-billion-U.S. dollar takeover includes Dow AgroSciences' seed processing plants, seed research centers and corn germplasm bank in Brazil.
Oppo sales in India soar by 7.5 times -- Despite the impact of frontier conflicts and investment slowdown, Oppo's total sales in India soared by 7.5 times on year to 79.74 billion Indian rupee (1.23 billion U.S. dollars) in the fiscal year of 2016- 2017 ending by March 31, India's The Economic Times cited Oppo's latest report. This has made Oppo the largest mobile phone seller in India, surpassing India's largest mobile phone maker Micromax Informatics and Japanese brand Sony. The data shows that Chinese mobile phones have dominated the Indian smart phone market, according to this report. Oppo is reportedly contacting Indonesian e-commerce enterprise Flipcart and Amazon, and is expected to target online sales in the following period.
China's Foton inks car distribution deal in Kenyan market -- Chinese automaker Foton and its Kenya-based distributor Pewin Motors on Dec. 13 signed a Memorandum of Understanding to distribute the Chinese-made cars in Kenya. Foton Motor Kenya Ltd., the wholly-owned subsidiary of Foton International, is responsible for the dual brands operation of Foton in the markets of Kenya and East Africa. "We are going to develop a wide distributor network across the country to distribute our vehicles to Kenyan consumers," Zhao Xiao, Vice President of Foton International, said during the China Africa Industrial Capacity Cooperation Expo.
Chinese telecom carrier launches new mobile voice, data services in Britain -- China Mobile International Ltd (CMI) on Dec. 13 launched here new mobile voice and data services designed for Chinese immigrants, students and professionals living in and traveling to Britain. CMLink, the telecommunication company's mobile virtual network operator (MVNO) business, will provide a package of affordable services that cater to the Chinese community in Britain.
Chinese, Kenyan firms ink deal to promote renewable energy in E Africa -- Chinese battery firm, Ritar Power and Kenya's Chloride Exide on Dec. 13 signed a Memorandum of Understanding (MoU) to promote renewable energy in East Africa. Karanja Njoroge, General Manager of Chloride Exide, told journalists in Nairobi that they have signed a five year agreement to be the exclusive distributor of Ritar Battery products in Kenya, Uganda and Tanzania. "Under the agreement we hope to promote uptake of renewable energy solutions such as solar and wind by providing affordable batteries in the East Africa region," Njoroge said during the first China-Africa Industrial Capacity Cooperation Exposition.
Taobao-auctioned Boeing 747 freight planes delivered in China -- Two Boeing 747 freighters successfully auctioned on Taobao's judicial sales platform last month were handed over to its buyer on Dec. 12. A hand-over ceremony was conducted at the Shenzhen Intermediate People's Court. Altogether three Boeing 747 planes went up for auction on Nov. 21. SF Airlines purchased two of the aircraft, registered with the identification numbers B2422 and B2423, for more than 320 million yuan (around 48 million U.S. dollars). The third plane failed to find a buyer.
China's Huawei taps smartphone market in Morocco -- Chinese tech giant Huawei aims to become the largest smartphone brand in the Moroccan market by 2022, according to Jacky Hong, director of Huawei in Morocco. In an interview with Moroccan financial news site Medias24.com posted on Tuesday, Hong said the Chinese giant's sales in the country have grown 200 percent in 2017. Huawei has made 200,000 sales in Morocco and the number is expected to reach 300,000 by the end of the year, Hong noted. With the launching of its Mate10 series in Morocco, the company targets 70 million sales for the smartphone by September 2018.
Tencent planning push into retail sector -- Chinese tech giant Tencent Holdings Ltd plans to buy a 5 percent stake in hypermarket operator Yonghui Superstores Co Ltd, Yonghui said on Dec. 11, as part of Tencent's move to push into offline retail. The investment, which will be made through Tencent affiliate Linzhi Tencent Technology, will also see the firm take a 15 percent stake in Yonghui's supply chain and logistics subsidiary via a capital increase, the retailer said. (Source: China Daily)
JD Logistics turns profitable -- JD Logistics, the logistics arm of the country's second-largest e-commerce player JD, said that it has achieved an annual revenue of 30 billion yuan ($4.5 billion) and looks set to scale it up to 100 billion yuan in the next five years, with orders from third-party trading platforms accounting for nearly 50 percent of the revenue. "JD Logistics has been profitable. The orders from third-party seller platforms and outside partners have witnessed rapid growth, which surpassed the growth rate of JD's self-owned orders," said Wang Zhenhui, CEO of JD Logistics. (Source: China Daily)
A single purchase
