CDB, Guangxi jointly set up RMB50 bln funds to support B&R projects -- China Development Bank Capital (CDB Capital), a subsidiary of CDB, joined hands with Guangxi Investment Group to set up funds totaling 50 billion yuan to invest in Belt and Road projects in southern China's Guangxi Zhuang Autonomous Region and ASEAN countries. Guangxi is an important border area that connects China with ASEAN countries. As the Belt and Road Initiative has been echoed by a growing number of countries and regions, Chinese banks have stepped up support to Guangxi and ASEAN countries.
CDB, Guangxi jointly set up RMB50 bln funds to support B&R projects -- China Development Bank Capital (CDB Capital), a subsidiary of CDB, joined hands with Guangxi Investment Group to set up funds totaling 50 billion yuan to invest in Belt and Road projects in southern China's Guangxi Zhuang Autonomous Region and ASEAN countries. Guangxi is an important border area that connects China with ASEAN countries. As the Belt and Road Initiative has been echoed by a growing number of countries and regions, Chinese banks have stepped up support to Guangxi and ASEAN countries.
ICBC, KDB inks MOU on launching USD500 mln credit line -- Korea Development Bank (KDB) and Industrial and Commercial Bank of China (ICBC) have signed a memorandum of understanding (MOU) on mutually providing a credit line of up to 500 million U.S. dollars, according to a report published by hdfin.stheadline.com on December 13. Under the MOU, KDB will provide ICBC’s Seoul branch with funds in Korean won and ICBC will offer yuan-denominated loans to KDB’s branch in China.
Tencent, JD to invest USD863 mln in Vipshop -- Chinese tech heavyweights Tencent Holdings Ltd and JD said on December 18 that they will jointly invest 863 million U.S. dollars in cash in Chinese online discount retailer Vipshop Holdings Ltd. Tencent and JD will purchase the newly issued Class A ordinary shares of Vipshop for 604 million U.S. dollars and 259 million U.S. dollars respectively. The purchase price will be 65.40 U.S. dollars per Class A ordinary share, which is equivalent to 13.08 U.S. dollars per American depositary share of Vipshop. (Source: China Daily)
Geely's first dealership in Belarus opens -- China's Zhejiang Geely Holding Group opened its first official dealership in Belarus on December 15.The first dealer center, located on Timiryazeva Street in the capital city of Minsk, will offer the crossover Geely Atlas NL3 that is assembled by the Belarusian-Chinese joint venture BelGee using the full-cycle manufacturing process.
Huawei leads in HPC market -- Huawei has successfully deployed high-performance computing (HPC) clusters for its customers in industries such as manufacturing, supercomputing, and higher education through a complete series of HPC products and solutions, according to a report. The report is by Intersect360 Research, a world-renowned HPC consultancy and service company. It recently unveiled a white paper titled Huawei Brings HPC Solutions to Cloud and AI. (Source: China Daily)
Mobike sues over illegal ads on seat covers -- China's bicycle-sharing company Mobike Technology sued a Shanghai-based company for equipping its shared bikes with seat covers printed with advertisements, according to a report by cnr.cn, the official website of China National Radio. Since November, local citizens have found shared bikes on the streets in Chengdu, Southwest China, taking on a new look with white seat covers. On closer examination, they found the covers printed with advertisements. (Source: China Daily)
FrieslandCampina sees growth in Chinese dairy market -- Dutch global dairy giant Royal FrieslandCampina said it is bullish on the long-term growth of the dairy market in China and committed to help promote the quality and safety of dairy products in the country. In November 2013, Royal FrieslandCampina, China Agricultural University and Wageningen University and Research co-founded the Sino-Dutch Dairy Development Center, an international cooperation platform that aims to share the industrial chain growth experience from the Netherlands and promote the development of the dairy industry in China.
JD and COLI team up for unmanned convenience stores -- China's second-largest e-commerce player JD has linked up with leading Chinese real estate developer China Overseas Land & Investment Ltd, with a goal of opening hundreds of unmanned convenience stores, leveraging the latter's real estate resources across the country. The space for the new stores will be provided by COLI, while JD will fully integrate its self-developed technology and provide support in operating the stores.
Chinese firm eyes nuclear energy cooperation in Africa -- China is interested in cooperating with African countries to enable them to develop nuclear energy, a Chinese state-owned company has revealed. Yao Hong, a deputy director of International Marketing Department for China Zhongyuan Engineering Corporation, which is the overseas nuclear project platform of China National Nuclear Corporation (CNNC), told Xinhua in Nairobi that Beijing has the technology, construction capacity and financial institutions to enable Africa to exploit nuclear energy safely.
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