Business

LeEco to Officially Launch in the US Next Month

Charissa Echavez   | Sep 30, 2016 12:32 AM EDT

China's LeEco is finally heading to the U.S. and has sent out invitations for a press event in San Francisco, California, on October 19. read more

China's Fundamental Films to Acquire 28% Stake in Luc Besson's EuropaCorp

Charissa Echavez   | Sep 29, 2016 11:33 PM EDT

China's Fundamental Films has agreed to acquire 27.9 percent stake in Luc Besson's EuropaCorp for $67 million, the company announced on Thursday. read more

Apple Establishes First R&D Center in Zhongguancun, China's 'Silicon Valley'

Charissa Echavez   | Sep 29, 2016 01:15 PM EDT

Apple has established its first research and development (R&D) center in China in Zhongguancun Science Park, Beijing. read more

Alipay to Roll Out Payment Service in International Airports

Charissa Echavez   | Sep 29, 2016 12:23 PM EDT

Alipay will be making travels of Chinese tourists more convenient as the online payment platform will soon be accessible in some international airports. So instead of shelling out foreign currencies, Chinese travelers can eventually pay their bills through the app. read more

Chinese Billionaire Wang Jianlin Warns About Real Estate Bubble

S. Rina   | Sep 29, 2016 12:31 PM EDT

China's real estate tycoon Wang Jianlin has expressed concern over the real estate market in the country. read more

Baidu Plans to Lead the Autonomous Driving Market by 2018

Ellie Froilan   | Sep 29, 2016 07:20 AM EDT

Baidu is planning to take the lead on artificial intelligence for autonomous driving in China by bringing its first autonomous car to the market by 2018, while its mass production is expected to commence by 2020. read more

Postal Savings Bank of China Makes Flat Market Debut

Charissa Echavez   | Sep 29, 2016 07:00 AM EDT

Despite breaking the record of raising $7.4 billion in the world's largest initial public offering (IPO), Postal Savings Bank of China did not fare so well on its first trading day at the Hong Kong Stock Exchange on Wednesday. read more

China’s Oil Reserve may Subvert any OPEC Move to Push up Petroleum Prices

S. Rina   | Sep 28, 2016 12:53 PM EDT

Members of the Organization of Petroleum Exporting Countries (OPEC) are scheduled to hold an informal meeting in Algiers later this week. The continuous decline in oil prices is likely to be the main agenda at the meeting. However, experts believe that China's oil reserves may subvert any decision taken by OPEC members to push up petroleum prices. read more

Chinese Investors to Buy Sydney's 333 Kent Street for A$88.88M

Charissa Echavez   | Sep 28, 2016 07:00 AM EDT

Chinese firm Bridge Capital and Australian iProsperity Group made a historic offer to buy the 333 Kent Street office tower in Sydney's Central Business District for A$88,888,888.88. read more

Xiamen Airlines Unveils New Xiamen-Shenzhen-Seattle Service

Charissa Echavez   | Sep 27, 2016 11:52 PM EDT

China's Xiamen Airlines started its Xiamen-Shenzhen-Seattle service on Monday (Sept. 26), marking not only the first long haul route from Xiamen to the United States but also the first direct international service between Shenzhen and the United States. read more

Yum! Brands OKs Separation of China Business

Ellie Froilan   | Sep 28, 2016 07:17 AM EDT

Yum! Brands has approved its separation from its China business counterpart. read more

China Floats $52.5B State Enterprises Restructure Fund

S. Rina   | Sep 28, 2016 07:03 AM EDT

China launched a $52.5 billion fund for boosting its ‘supply-side’ reforms. The fund is intended to restructure and redesign its state-owned enterprises. read more

China reports highest industrial profit in three years

S. Rina   | Sep 28, 2016 04:32 AM EDT

China’s industrial profit grew 19.5 percent in the month of August, its highest rate in three years. read more

AppLovin Sells Majority Stake to China's Orient Hontai Capital for $1.42B

Charissa Echavez   | Sep 27, 2016 10:52 AM EDT

Mobile ad startup AppLovin announced on Monday it is selling a major stake to Chinese private equity firm Orient Hontai Capital for a staggering $1.42 billion, Fortune reported. read more

Alibaba Appoints Former McKinsey Exec Madhur Deep as New Senior VP in India

Ellie Froilan   | Sep 27, 2016 10:22 AM EDT

Alibaba has hired former McKinsey and Goldman Sachs executive Madhur Deep to lead its strategy and investment team in India. read more

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