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Company in China

  • Hangzhou K-12 educator was six times Apple’s market value

    CHINA, 2017/08/11 Hailiang Education Group Inc., a Hangzhou company that provides syllabuses from kindergarten to high schools, was the world’s most precious company for eight minutes overnight, next a fat-finger trading error caused its stock price to jump 20,000-fold. Bids for the company’s stock were received at US$200,000 at 9:35 am New York time on Thursday on the Nasdaq market. A quote recap of the transactions showed 700 shares actually changing hands at that price, before trading was halted for eight minutes. The transaction was later annulled, next which the stock’s price dropped to US$10.26, ending the day 4.5 % higher at US$10.34.
  • Recovering Caterpillar set to fly with its Chinese partners

    CHINA, 2017/04/27 Caterpillar Inc will continue to facilitate Chinese indigenous partners on projects along the Belt and Road economies, said one of its top executives. The US’ major machinery manufacturer is planning to organize a group of Chinese large contractors to go on an inspection tour of Africa and the Middle East later this month, where Caterpillar owns mature dealership networks and rich resources, according to Chen Qihua, its vice-president. Chen said the initiative will benefit the company’s efforts to promote interactions between Chinese contractors seeking overseas opportunities and service providers along the ancient trading routes.
  • Indian film star Sushmita Sen played a part in the launch event for Huawei’s P9 smartphone in New Delhi last month

    CHINA, 2016/09/29 The world’s third-largest smartphone maker by shipments—behind Samsung Electronics Co. and Apple Inc.—said Friday that it will work with the Indian arm of contract manufacturer Flex International Ltd. to assemble smartphones for the local market starting next month. Huawei Technologies Co. is making a renewed push into India’s fast-growing smartphone market, manufacturing locally and broadening its distribution network. By the end of next year, the plant in Chennai will have the capacity to make 3 million phones annually, Huawei said. The Chinese technology giant is also expanding its distribution network in India by teaming up with more than 50,000 retail outlets by the end of this year.
  • Wyndham Garden arrives in China with first hotel

    CHINA, 2016/01/08 Wyndham Hotel Group has expanded its footprint of additional than 1,000 hotels in China thanks to the debut of the country's initial Wyndham Garden property, opening recently in Suzhou. Conveniently situated in the heart "the Venice of the East," known for its scenic canals and bridges, the 289-room Wyndham Garden Suzhou is adjacent to bustling Guanqian Street and four garden areas popular with tourists. It is just 30 minutes from Shanghai by high-speed rail and a short drive from a number of world-class cultural heritage sites inclunding Tiger Hill, The Humble Administrator's Garden, Lion Grove and Hanshan Temple.
  • Huawei plans to promote Africa’s digital economy by building a better connected Africa

    CHINA, 2015/12/10 Huawei has called for enhanced cooperation between China and Africa in building a better connected world in order to promote the digital economy in Africa. As the only representative from the Telecom industry present at the 5th Conference of Chinese and African Entrepreneurs, a side event of the Forum on China-Africa Cooperation (FOCAC), Huawei expressed its continued efforts to building a better connected Africa. During his address at the event, Charles Ding, Senior Vice President of Huawei, said, “Huawei has been focused on building a better connected Africa for 17 years. We continuously leverage our world innovation capabilities and cooperate with governments, customers, and industrial partners to increase telecom network coverage significantly to achieve a win-win cooperation. We’ve deployed additional than 50% of wireless base stations, over 70% of LTE networks and at least 50,000KM of optical fibre to provide better telecom connectivity to Africa. Connectivity is the cornerstone to the development of a digital economy in Africa. “
  • Li Gang, deputy chairman of Evergrande's board,

    CHINA, 2015/11/30 Evergrande Group says it has bought half of a joint venture insurance company, a move a person close to the developer says is aimed at helping it explore the financial sector. Evergrande held a press conference on November 22 to announce the transaction for Great Eastern Life Assurance (China) Co. Ltd. (GELC). The insurer's name was changed to Evergrande Life Insurance Co. Ltd. The source close to the firm said Evergrande paid Chongqing Land Group and Chongqing City Construction Investment (Group) Co. Ltd. 3.9 billion yuan for the 50 % stake in the insurer.
  • Aman to launch private jet expeditions

    CHINA, 2015/11/13 The debut journey will be a six-night trip for just 12 guests travelling between the three Aman destinations in China. It will take place on March 5, 2016 and will stop at Beijing (for Aman Summer Palace) and Amandayan in Lijiang ending at Amanfayun in Hangzhou. Aman is launching a set of private jet tours, with the first taking in its highlights of China and another to travel around Indonesia. The second trip will travel around Indonesia from April 9-16, commencing in Bali, again onto Amanjiwo in Central Java and Amanwana, a tented resort on Moyo island, inclunding a sailing expedition aboard Aman’s Indonesian Phinisi coastal cruisers Amandira or Amanikan to the Komodo National Park.
  • Steve Burd, Acting Vice President of Sales for DHL SSA

    CHINA, 2015/10/31 The African continent is experiencing rapid retail expansion, and is being compared to China in 1987 at the same time as it was predicated to be the next large thing. A.T. Kearney’s 2015 World Retail Development Index has listed Sub-Saharan Africa as the ‘large story’ for 2040, similar to that of China 30 years ago, where today, retailers are expanding four to five times faster than retailers in the United States and Europe. Recognizing this potential, DHL (dpdhl.com) is playing a key role in growing retail on the continent via its current footprint of 5 800 retail outlets across Sub Saharan Africa (SSA), not by building its own bricks and mortar branches but by partnering with local business owners who act as DHL resellers. Steve Burd, Acting Vice President of Sales for DHL SSA, says, “Thousands of vendors – such as electronics stores, travel agents and stationery stores – presently offer DHL Express services, alongside their existing product offerings.
  • China probes the managers of Switzerland's Schindler

    CHINA, 2015/09/29 Chinese authorities are investigating two managers of Swiss lift and escalator maker Schindler over possible embezzlement and bribery, the company said, the new foreign firm caught up in a corruption crackdown. Two Chinese managers, inclunding the local managing director, were taken away by police for questioning on Thursday, the company said in a statement.
  • Alibaba to Open Data Center in Silicon Valley

    CHINA, 2015/03/07 China’s major Internet company, Alibaba, is adding to its modest presence in Silicon Valley, but not in the way a lot of have expected. In an announcement on Wednesday, the Chinese e-commerce giant said it planned to open its initial data center outside of China in Silicon Valley. Instead of supporting the company’s hugely popular e-commerce sites, the center will help Alibaba spread a less well-known but growing side of its business: cloud services for businesses. Similar to the services offered by Amazon that lease computing power to businesses, Alibaba has been slowly wooing clients in China to use its services. A lot of vendors who sell on Alibaba’s e-commerce sites use the services, but it has been slowly adding larger clients. The company said the new data center would initial cater to Chinese businesses operating in China, but in the second half of the year do additional to aim at foreign clients. The company did not specify at the same time as the center would open, how much it was investing in the center, or how large it would be.