Sinopec plans to import more oil from US -- China Petroleum & Chemical Corp, China's largest oil refiner, is expected to import 10 million metric tonnes of crude oil from the United States this year, said the company, also known as Sinopec.
Unipec Singapore Pte Ltd, a trading unit of Sinopec, said it imported 5.57 million tonnes of crude oil from the US in 2017, 10 percent of the total US crude oil export last year, which also makes the company the biggest US crude oil trader in the Asia-Pacific region and a major player in US crude oil trade. (Source: China Daily)
Chinese agricultural firm Farmmi rings Nasdaq opening bell to celebrate its IPO -- Chinese agricultural products supplier Farmmi, Inc. on February 26 rang the Nasdaq Stock Market opening bell in celebration of its Initial Public Offerings (IPO).
Shares of Farmmi began trading on the Nasdaq on February 16, 2018, under the ticker symbol "FAMI."
Fosun furthers efforts to tap fashion market -- Shanghai-based outbound conglomerate Fosun International Ltd has maintained momentum in the Chinese New Year with its purchase of a controlling stake in French fashion house Jeanne Lanvin SAS.
Announced on Feb 22－the first working day after the seven-day Lunar New Year holiday－the acquisition will be carried out by Fosun International and its subsidiaries, according to the company. This is in line with the target of Fosun Fashion Group established in 2015, which aims at investing globally in the fashion and retail industry. (Source: China Daily)
Chinese mobile phone maker Transsion wins African hearts -- Multiple SIM slots, weeks of battery standby time, front camera exposure calibrated to suit darker skin tones ... a Chinese mobile phone maker has become popular in Africa by making products tailored for the local market. Since entering Africa 10 years ago, Chinese phone maker Transsion, based in Shenzhen, Guangdong province, has acquired 38 percent of the African market, according to company co-founder Arif Chowdhury. (Source: China Daily)
COMAC gets orders for 30 more C919 from Huarong -- The C919, China's first home-built large passenger plane, gained another 30 orders on February 26 from China Huarong Financial Leasing Co Ltd, the subsidiary of China's largest financial asset management firm, lifting its total orders to 815.
Commercial Aircraft Corp of China Ltd, the manufacturer of the C919, signed an agreement with Huarong Leasing in Beijing. So far, the C919 has netted orders from 28 Chinese and overseas customers. (Source: China Daily)
Sinomach banks on B&R boost -- China National Machinery Industry Corp, also known as Sinomach, will expand its business in economies related to the Belt and Road Initiative in partnership with privately run companies this year, said a top executive.
The move is part of the company's efforts to incorporate mixed-ownership reforms to maximize benefits. The central State-owned enterprise mainly produces construction and agricultural equipment.
Huawei takes a significant lead in 5G race -- Huawei Technologies Co Ltd has unveiled its first 5G chipset compatible with global telecom standards, as the Chinese technology giant accelerates steps to commercialize the next generation of mobile communication technology.
The move is Huawei's latest effort to take on global chip giants Qualcomm Inc and Intel Corp, which are also scrambling to enable the application of 5G in consumer electronic devices. (Source: China Daily)
Hainan Airlines to increase flights from Chengdu to US cities -- China's Hainan Airlines has announced it will increase the frequency of flights between Chengdu and US cities of New York and Los Angeles from twice a week each to three times a week starting in May.
The airlines said on February 23 that they decided to increase the flights to meet the needs of the market and continue promoting economic cooperation between China and the United States.
Chinese innovation hub sees surge in overseas-funded firms -- Shenzhen, a city emerging as China's leading innovation hub, saw the arrival of many new overseas-funded companies last year, local authorities said on February 24.
More than 11,000 such firms, including many with investment from Hong Kong, were registered in Shenzhen last year, nearly twice the number in 2016, according to Shenzhen enterprise registration bureau.
Hayao picks 40pct stake in GNC, to also form new JV -- Harbin Pharmaceutical Group Holding Co Ltd, better known as Hayao, said it will invest about 300 million U.S. dollars in GNC Holdings Inc, potentially becoming the single largest shareholder in the US company with a 40-percent stake.
The GNC board will be expanded to 11 members, including CEO Ken Martindale and five each from GNC and Hayao. (Source: China Daily)
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