China’s total domestic movie ticket sales rose to RMB 55.9 billion ($8.6 billion) in 2017, a 13.5% increase on the previous year, the Associated Press reports. The top-grossing title of the year was Chinese action picture “Wolf Warrior 2,” which made RMB 5.7 billion yuan ($875 million), according to data from the State Administration of […]
Category: Consumer
China’s fast-growing electric and hybrid vehicle market received a further boost Wednesday after the government announced that it will extend a tax rebate on purchases of new-energy vehicles until the end of 2020, Reuters reports. The tax exemption was set to expire at the end of this year, but will now be in place until Dec […]
JD.com‘s logistics arm is delivering, reporting 30 billion yuan ($4.5 billion) in annualized revenue. In April, China’s second-largest online retailer spun off its in-house delivery platform into a subsidiary – JD Logistics. Skeptics questioned the necessity of such a move and whether the unit could turn a profit in China’s competitive delivery landscape, according to Caixin. […]
Chinese carmaker BAIC Motor Corp aims to stop selling own-branded conventional fuel-powered cars by 2025, China Daily said on Tuesday, amid a major push by Beijing to shift automakers toward electric and plug-in hybrid cars, Reuters reports. BAIC, which also makes vehicles in partnership with South Korean carmaker Hyundai Motor Co and Germany’s Daimler AG, […]
Alibaba has signed a deal with Ford Motor to explore cooperation in areas such as cloud computing, connectivity and retail which could involve the sale of Ford cars on Alibaba’s online retail platform Tmall. Alibaba in a statement on Thursday said digital marketing-focused Alimama and operating system firm AliOS would be among subsidiaries working with […]