BUSINESS >> Companies

Car imports tumble 87%

Chinese car imports declined 87.1 percent in June from a year earlier to 15,000 vehicles as automakers delayed shipments before tariff cuts on foreign-made vehicles took effect last month, according to an industry association.
Source: Global Times - Reuters | 2018/8/6 22:33:41

Haier costs spike in US

China's Haier Group said rising steel prices amid hefty US import tariffs are driving up costs for its business in the US, and it warned that consumers stood to lose the most from bilateral trade tensions.
Source: Global Times - Reuters | 2018/8/6 22:33:41

Didi auto services

Didi Chuxing Technology, China's largest ride-hailing service, said on Monday it will invest $1 billion in its auto services business, part of a larger unit rebranding as the company prepares for a widely anticipated IPO.
Source: Global Times - Reuters | 2018/8/6 22:33:40

Walmart sales via JDDJ

Supermarket chain Walmart's online sales via Dada-JD daojia (JDDJ), an online-to-offline platform under e-commerce company JD.com, surged 200 percent year-on-year from July 24 to August 4, which was the first promotional period for Walmart's August 8 Shopping Festival.
Source: Global Times - Reuters | 2018/8/6 22:33:39

China's vaccine scandal-related firms to shift executives

Shenzhen Kangtai Biological Products Co (Kangtai) on Monday announced it will modify its rules and cut the size of its board of directors to five members from seven, read a corporate filing to the Shenzhen Stock Exchange.
Source: Global Times | 2018/8/6 22:28:40

Sea cucumbers die en masse amid record heat wave

More than 70 percent of sea cucumbers in Dalian, Northeast China's Liaoning Province, which accounts for half of China's output, has been lost due to high ocean temperatures, wreaking unprecedented havoc on one of the nation's most priced delicacies, according to a report by China Central Television.
Source: Global Times | 2018/8/6 22:28:39

McDonald's unveils limited edition, collectible MacCoin to celebrate 50 years of the Big Mac, redeemable for a free Big Mac globally

McDonald's China announced that it will celebrate the 50th Anniversary of the Big Mac throughout the world and launch collectable coins known as MacCoins that will feature five unique designs for fans to share and collect on Friday. On Monday, August 6, 2018, over 2,500 designated McDonald's restaurants in the Chinese mainland will distribute more than one million MacCoins. Each MacCoin is redeemable for one free Big Mac at a McDonald's restaurant, located in more than 50 countries worldwide.
Source: Global Times | 2018/8/6 14:33:39

CR Beer, Heineken deal

China's leading beer company CRH (Beer) Ltd has agreed to sell a 40 percent stake to Dutch brewer Heineken in a multibillion-dollar deal, media reports said.
Source: Global Times | 2018/8/5 22:03:40

Envision buys Nissan battery unit

Chinese renewable energy company Envision Group will buy Nissan Motor Co's battery manufacturing business, according to media reports.
Source: Global Times | 2018/8/5 22:03:40

Lock-up shares worth $2.6b eligible for trade

Lock-up shares worth about 17.9 billion yuan ($2.6 billion) will become eligible for trading on China's bourses this week.
Source: Xinhua | 2018/8/5 21:32:41

Cancer drugs to become more affordable in China: report

China is on track to make oncology drugs more affordable, the China Media Group (CMG) reported on Saturday, with pricing negotiations with producers to add a range of cancer drugs to the list of medicines eligible for government reimbursement to be finished by the end of September.
Source: Global Times | 2018/8/5 21:28:40

US firms expand in China amid trade tensions, showing heavy reliance on Chinese market

Despite the uncertainty brought by escalating China-US trade tensions, US companies have reportedly been expanding business in China in recent days.
Source: Global Times | 2018/8/5 20:32:43

Bilateral ties get stronger as Hainan Airlines opens 3rd China-Israel direct route

A modern Boeing Dreamliner 787 airplane landed on the Ben-Gurion International Airport of Tel Aviv on Thursday after 10-hour non-stop flight from Guangzhou, capital city of South China's Guangdong Province.
Source: Xinhua | 2018/8/4 7:25:21

Toyota bets cost cuts will buoy fuel cell vehicles

Toyota Motor Corp is doubling down on its investment in hydrogen fuel cell vehicles, designing lower-cost, mass-market passenger cars and sport utility vehicles (SUVs) and pushing the technology into buses and trucks to build economies of scale.
Source: Agencies-Global Times | 2018/8/2 18:40:13

Audi's sales, revenue rise in H1 despite ongoing Dieselgate

German carmaker Audi reported on Friday that its sales and revenue rose in the first half of 2018 despite the ongoing dieselgate and its jailed CEO.
Source: Xinhua | 2018/8/4 6:22:18

Chinese major surveillance providers saw shares plummet after statement involving US bill

Shares of the world's top two security camera makers - Hangzhou Hikvision Digital Technology and Zhejian Dahua Technology - nearly fell by the daily limit of 10 percent during Friday's trading after they said business in the US market might be affected after a US bill becomes effective.
Source: Global Times | 2018/8/3 23:28:40

Huawei vows to take 40 percent market share in China, 30 percent globally

Chinese telecommunications giant Huawei expects to sell more than 200 million smartphones this year and take more than a 40 percent market share in China as well as grow its global market share to more than 30 percent during the next three to five years, the company said Friday.
Source: Global Times | 2018/8/3 23:13:40

China's OnePlus sees fast growth in Indian premium smartphone market

Chinese smartphone manufacturer OnePlus surpassed Samsung and Apple as the fast-growing premium (price of over 436 USD) smartphone brand in India, a report has showed.
Source: Xinhua | 2018/8/3 17:09:36