Air China, Air Canada sign joint venture agreement -- Air China and Air Canada signed a joint venture agreement on June 6 in Beijing, which will enable the two aviation groups to offer better customer services, including optimizing flight schedules, improving lounge services and promoting joint sales, according to Calin Rovinescu, the president of Air Canada. He added that the Chinese aviation market is expected to become the world's largest by 2022 and the new joint venture is a "tremendous opportunity" for Air Canada that will further drive its participation in this market. (Source: China Daily)
China's HNA, COMAC to exend networks with homegrown C919, ARJ21 -- China's HNA Group and the Commercial Aircraft Corp of China (COMAC) have signed an agreement to extend operation and service networks with homegrown civil aircraft, according to COMAC on June 6. HNA will introduce 100 ARJ21 regional aircraft and 200 C919 large passenger aircraft, said the strategic partnership agreement.
Alibaba Group's Tmall sets up IoT unit as its fifth strategic pillar appears -- Chinese e-commerce titan Alibaba Group's Tmall announced on June 5 the establishment of its IoT Unit and the co-launch of new IoT electric appliances with ECOVACS, AUX, DOOYA and Haier. The move is taken when IoT (internet of things) is recognized as the fifth key strategic pillar of Alibaba Group after e-commerce, cloud computing, Finance and Logistics, according to Shanghai Securities News.
Sinosure inks cooperative agreement with Uzbekistan National Bank for Foreign Economic Activity -- China Export & Credit Insurance Corporation (Sinosure) has inked a framework cooperative agreement with Uzbekistan National Bank for Foreign Economic Activity during Sinosure delegation's visit to Uzbekistan during May 14-16.The two parties agreed to cooperate and utilize each other’s advantages, strengthen project and policy information exchange to better service and push bilateral economic, trade, and investment exchanges.
Shanghai Kinetic Medical injects RMB495mln to purchase US orthopedic medical equipment company -- Shanghai Kinetic Medical (300326.SZ) announced on June 4 that it plans to invest 77.15 million U.S.dollars (about 495 million yuan) via its wholly-owned subsidiary to purchase 100 percent stakes of Elliquence, LLC. According to the announcement, at present, Elliquence's core products have been approved by FDA, CE, CFDA, etc. and the company owns these products' intellectual property rights. The company’s product sales area includes North America, Asia, Europe, South America and Africa.
Fuxin Dare Automotive Parts Co.,Ltd (300473.SZ) invests JPY9.8mln to set up subsidiary in Japan -- Fuxin Dare Automotive Parts Co.,Ltd (300473.SZ) announced on June 4 that it will inject 9.8 million Yen to set up a wholly-owned subsidiary in Japan. According to a company filing, the business of the new company includes automotive and automotive parts, optical instruments, precise instruments, electronic components, equipment, semiconductor parts, solid-state batteries and semiconductor COMS sensors, and optical communication related parts, and equipment design, R&D, manufacturing, service, import and export business, etc.
Geo-Jade Petroleum, United Energy to develop three oil and gas fields in Iraq -- Two Chinese companies, United Energy Group Limited and Geo-Jade Petroleum Corp., on June 4 signed a referendum contract with Iraqi Oil Ministry to develop three oil and gas fields in Iraq. United Energy Group Limited will develop one oil and gas field, while Geo-Jade Petroleum Corp. will develop the other two, accoridng to a report by cnstock.com.
Lifan Industry (601777.SH) sees shared car project running smoothly in Russia -- Lifan Industry (Group) Co.,Ltd. (601777.SH) announced on June 4 that its shared car project has been running smoothly in Russia, with 500 sets having been put into operation.The company said that it is likely to expand the scale according to market demands.
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