xinhua silk road logo xinhua silk road logo
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

maritime silk road search
Belt & Road Weekly

Business brief

March 29, 2018


Abstract : Business brief

China becomes Tesla's fastest growing market in 2017 -- The U.S. electric car maker Tesla saw its fastest revenue growth in China in 2017. The firm's revenue from the Chinese market reached 2 billion U.S. dollars in 2017, up more than 90 percent year on year, according to Tesla's China branch.

Chinese-sponsored esports arena opens in Las Vegas -- Esports Arena Las Vegas, invested by Chinese esports company Allied Esports, opened in March 22 at Luxor Hotel and Casino in western U.S. city of Las Vegas. "We choose Las Vegas as our company's flagship esports arena location because it's a famous tourist and entertainment city in the world," said Feng Qing, CEO of Allied Esports Group."We invested around 20 million U.S. dollars to build this top esports arena with best hardware and software," She told Xinhua, adding that the esports industry is expected to reach more than 1 billion dollars in revenues in near future.

Jahwa's goal to become global cosmetics leader -- Having celebrated the 120th anniversary of its founding, Shanghai Jahwa United Co Ltd - China's most historical consumer goods company - is looking to not only secure its leading position in its home market, but also rise to become a globally competitive player with the likes of L'Oreal and Proctor& Gamble. To achieve that goal, the company will expand its portfolio in categories including high-end cosmetics, fragrance, cosmetology and health supplements, Zhang Dongfang, CEO of the Shanghai-headquartered company, announced at Jahwa's anniversary ceremony on March 23.  (Source: China Daily)

Elevator firm opens plant in Zhongshan -- Germany's thyssenkrupp Elevator, a diversified industrial group with a history of more than 200 years, on March 23 opened its new plant and a test tower in Zhongshan, Guangdong province, a traditional manufacturing city in the Pearl River Delta region. The company said it will continue its investment in China as the country's demand for high-quality elevators keeps increasing because of its rapid urbanization, said a company executive. (Source: China Daily)

Daimler launches new Denza electric vehicle for Chinese market -- Daimler and its Chinese partner BYD Auto have launched a new "Denza 500" battery electric vehicle, the German luxury car maker told press on March 26. Engineered and produced in and for China, the Denza 500 is described as offering Chinese customers a comprehensive upgrade through a refreshed exterior design and extended electric range.

Morocco's BMCE Bank of Africa to open branch in China -- Morocco's BMCE Bank of Africa (BOA) will open a branch in the Chinese city of Shanghai, local media reported on March 27. The financial daily L'Economiste reported that the branch is expected to open in September. The BOA has opened a representative bureau in China since the early 2000s. The Moroccan bank has been involved in several projects with Chinese institutions and firms, including the establishment of an industrial park in northern Morocco and the building of the tallest skyscraper in Africa in the capital Rabat.

Huawei eyes bigger slice of high-end pie -- Smartphone vendor Huawei Technologies Co Ltd unveiled its latest smartphones in Paris on March 27, in a new push to grab market share from Apple Inc and Samsung Electronics Co in Europe. "Western Europe is of great strategic significance to Huawei, especially as the company encounters bottlenecks in the US. It is adjusting its strategies toward the high-end smartphone segment in Europe to gain a greater market share," said Jia Mo, senior analyst at market research firm Canalys. (Source: China Daily)

Aliyun works with Chinese university to cultivate big data talent -- Aliyun, Alibaba's cloud computing subsidiary, has launched a cooperation program with a Chinese university to cultivate talent in the fields of cloud computing, big data and artificial intelligence. Aliyun and Shenzhen University will set up a "Big Data College" and offer courses on cloud computing, data science and artificial intelligence. Aliyun will also provide internship opportunities to students from the university.

Samsung starts building new chip production line in Xi'an -- Samsung Electronics Co Ltd began building a new memory chip production line in Xi'an, capital of Northwest China's Shaanxi province on March 28, as the tech giant ramps up efforts to boost NAND flash chip technology to meet future demand. South Korea's tech behemoth said in August last year that it expected to invest 7 billion U.S. dollars into the second phase of its chip plant in Xi'an, which will primarily produce advanced flash memory chips.  (Source: China Daily)

GS1 China signs strategic partnership with eBay -- E-commerce giant eBay signed a strategic partnership with GS1 China in Shenzhen on March 28 to promote GS1’s global trade item number (GTIN) among eBay sellers in the country. Zheng Changqing, general manager of eBay’s cross-border commerce division in China, said the benefits of implementing a standardized product barcode went far beyond operational improvements. (Source: China Daily)

Scan the QR code and push it to your mobile phone

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial