Archive for Business/Industry

Midea buys 80% of Toshiba home appliances unit

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LEADING CHINESE WHITE goods maker Midea (美的)has agreed to buy 80.1% of Toshiba’s home appliances division (东芝家电)for Yen53.7 billion (US$473 million), officially designated within Toshiba Corporation as the Toshiba Lifestyle Products & Services Corporation (TLSC). This further strengthens a relationship between the two companies that dates back over two decades during which they have cooperated closely […]

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China boosts economic ties with Ghana

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CHINA IS PREPARING to extend economic cooperation with Ghana, according to a statement made by Sun Baohong, Chinese Ambassador to Ghana, last Thursday, against a background where China has doubled its trade with Africa over the past four years, hitting US$222 billion last year (2014). In a speech made during the final round of the […]

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China express delivery boom driven by e-commerce

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EXPRESS DELIVERY SERVICE is booming in China, thanks to major growth in its e-commerce industry.  More than 8,000 express delivery firms operate in China to accommodate growing demand for goods purchased online.  According to a Xinhua report, an estimated 10.2 packages were delivered per person in the past year. Express delivery is leading the growth […]

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Fast food, fast competition

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McDONALD’S AND YUM Brands Inc., KFC’s parent company, are looking to add digital options in China that will make their fast food sales even faster and win back business after a rough year in the critical Chinese market. McDonald’s will start testing mobile ordering and mobile payment in China under a pilot program in the current third quarter. The […]

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Thomas Cook, Fosun in travel joint venture

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BRITAIN’S THOMAS COOK, the world’s oldest tour operator brand, has forged a partnership with Fosun International in an attempt to enter the Chinese travel market. Fosun already owns 5% of the British firm. Thomas Cook believes the joint venture (JV) will help develop domestic, inbound and outbound tourism activities for the Chinese market under Thomas Cook […]

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Chengdu and Xi’an in top 10 fastest-growing visitor destinations

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TWO CHINESE CITIES are among the fastest-growing destination cities by international overnight visitors, according to the 2015 MasterCard Global Destinations Cities Index. Five of the top 10 fastest growing cities are in Asia, in a trend that is also reflected in China’s domestic travel market. Chengdu, the capital of Sichuan province, experienced a compound annual […]

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China’s hotel market moves towards “made for China”

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THE INTERCONTINENTAL HOTEL Group (IHG) has announced further plans for its new hotel brand, Hualuxe, geared towards Chinese preferences and values. This is an example of a shift within the Chinese hotel market and the role of international chains. According to A. T. Kearney, China has just four hotel rooms for every 1,000 people, compared […]

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China set to accelerate broadband speed and cut prices

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IN A DRIVE to bring the internet to more of the population, China’s State Council has announced plans to increase access to broadband in the country, particularly to more rural areas, and to decrease prices. Whilst initial plans were announced as part of the “Internet Plus” initiative earlier this year, the announcement for broadband extension […]

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Guangdong to spend Rmb1tr on factory automation by 2018

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GUANGDONG, CHINA’S MOST populous province, plans to spend close to Rmb1 trillion (Rmb943bn) between 2015 and 2018 to automate factories. And the provincial capital, Guangzhou, has a goal of automating more than 80% of the city’s manufacturing production by 2020. Between September 2014 and May 2015, Rmb4.2bn has been invested by 505 factories in Dongguan, with […]

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China signs US$5.5bn in African rail deals

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CHINESE STATE-OWNED rail company, China Railway Construction Corp (CRCC), has announced that is has signed two contracts in Nigeria and Zimbabwe, worth a total of US$5.5bn. The two projects include an intercity rail line worth US$3.5bn in Nigeria, the Nigeria Ogun State Intercity Mass Transit Project which will be 334km long, and feature a designed […]

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