China’s foreign exchange office has confirmed that the country posted a slight overall current account deficit for the first half of 2018, the first time China has recorded a half-year deficit in twenty years, Caixin reports. The country’s current account balance—which takes into account the balance in trade of goods and services as well as foreign payments—for […]
Category: Consumer
Heineken is entering into a partnership with China’s largest brewing company as it looks to make gains in the world’s largest domestic beer market. The agreement with state-backed China Resources Beer will give the Dutch brand a 20.67% stake in the partnership for a $3.1 billion investment. Heineken will also cede its existing China business […]
Starbucks Corp is set to announce a partnership with e-commerce giant Alibaba Group to roll out a coffee delivery service in China as the American chain looks to revive flagging sales in one of its most important markets, according to Reuters, citing media reports. The tie-up with Alibaba was hinted at by former Starbucks Executive Chairman […]
NEW COMPETITOR
BMW intends to increase the prices of its X5 and X6 SUV models sold in China by between 4% and 7%, the company told Reuters in a statement. The move is due to take effect on Monday. The two models subject to the increase are both made in South Carolina but shipped to China, where […]