Business

Walmart Boosts Investment in China Delivery Service

S. Rina   | Oct 21, 2016 10:55 PM EDT

Walmart is looking to strengthen its foothold in China food market with its new $50 million investment. read more

Redpoint Ventures Launches $180-M China Fund

S. Rina   | Oct 21, 2016 10:41 PM EDT

Redpoint Ventures announced the launch of its new China centric fund worth $180 million. read more

China Crackdown on Capital Flow, Yields $148-B in Illegal Trade

S. Rina   | Oct 21, 2016 10:16 PM EDT

China's war against underground banking and capital flow yielded solid results as the country uncovered $148 billion worth of illegal trades. The investigations are carried out by the State Administration of Foreign Exchange (SAFE) and are focused on capital outflows and foreign exchange transactions. The drive has already cracked 56 cases of illegal foreign exchange transactions this year so far. read more

Philippine President Duterte Takes Home a Bonanza of Deals From China Worth US$24 Billion

Desiree Sison   | Oct 21, 2016 07:34 AM EDT

On the last day of his state visit to China, Philippine President Duterte on Friday signed more than 20 Memoranda of Understanding MOU) agreements with China worth US$24 billion. The deals included trade, investment, and other areas of mutual interest. read more

JPMorgan Considers Selling its Stake in China Securities JV

S. Rina   | Oct 21, 2016 04:35 PM EDT

JPMorgan is reportedly in talks to sell out its stake in First Capital Securities joint venture. The banking company has a 33 percent stake in the joint venture. read more

Expert says Uncertainty in Real Estate Sector will Affect Chinese Economy

Girish Shetti   | Oct 21, 2016 01:19 AM EDT

Many economists reportedly expressed doubts if the robust growth rate will sustain itself in the long run despite the country's latest GDP performance. China's GDP grew by 6.7 percent during the third quarter of this year. read more

Starwood Capital Offloads Stake in $2 Billion Hotel Portfolio to China Life Insurance

Girish Shetti   | Oct 20, 2016 11:22 PM EDT

US Private investment firm Starwood Capital Group announced on Tuesday that it offloaded a stake in a roughly $2 billion portfolio in US hotels to a consortium led by China Life Insurance Co. Ltd. read more

Walmart Collaborates With IBM to Track Food in China

S. Rina   | Oct 20, 2016 04:30 PM EDT

Walmart has announced that it would be using blockchain technology to track the pork supply chain in China. The technology has been used by several consumer technology and financial services companies for the purpose of more efficient record keeping. Walmart is collaborating with IBM for this purpose. read more

Volkswagen to Launch China Only Deluxe Sedan Phideon

S. Rina   | Oct 20, 2016 04:00 PM EDT

Volkswagen will unveil its new top-end car model later this week. The model has been developed exclusively for the Chinese market. The new car called Phideon has the trappings of a luxury car. Volkswagen is looking to capitalize on the latest trend of subdued luxury in the Chinese economy. read more

GM to Launch 20 New Chevrolet Models in China

Charissa Echavez   | Oct 20, 2016 11:50 AM EDT

General Motor's Chevrolet brand announced on Wednesday its plans to launch more than 20 all-new or refreshed cars in China by the end of the decade, including hybrids and plug-in hybrid electric vehicles. read more

Chinese Firms Eye GNC Holdings Buyout: Report

Charissa Echavez   | Oct 20, 2016 09:40 AM EDT

GNC Holdings Inc. has reportedly met with Chinese buyers in recent weeks for a potential buyout that could be valued up to $4 billion including debt, The Wall Street Journal reported citing sources with knowledge about the matter said. read more

Starbucks Reveals New China CEO, Plans 5,000 Stores by 2021

Charissa Echavez   | Oct 19, 2016 09:31 AM EDT

American coffeehouse Starbucks announced on Wednesday it is promoting company executive Belinda Wong to chief executive for China and revealed its plan to increase its store count to 5,000 by 2021. read more

Hyundai to make Green cars to fend off Competition in China

Girish Shetti   | Oct 19, 2016 05:04 PM EDT

Hyundai Motor Co has completed a manufacturing plant in China, and will add another plant next year. Hyundai motors announced that both plants would be used to manufacture only environmentally friendly cars. read more

Danone Faces Revenue Growth Challenges in China

S. Rina   | Oct 19, 2016 11:08 AM EDT

Europe's largest yogurt maker Danone reported lower than expected revenue for its third quarter. read more

China Commits US$3-B to Fund Philippines' Infra Projects During Duterte's State Visit

Desiree Sison   | Oct 19, 2016 08:08 AM EDT

President Rodrigo Duterte's state visit in China has already achieved a positive result, as the country has committed US$3 billion to fund the Philippines' infrastructure projects. read more

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