China’s state-run research center responsible for helping the government draft automotive policy said it recommended that electric vehicle manufacturing be opened to companies other than carmakers, Bloomberg reported. The China Automotive Technology and Research Center proposed the issuance of two to three special licences for EV manufacturing, which would pave the way for the likes […]
Category: Tech, Media & Telecom
Mall and logistics park operator China South City (1668.HKG) on Tuesday announced plans to invest US$2.06 billion in the coming fiscal year to support an e-commerce partnership with Tencent (0700.HKG), South China Morning Post reported. China South City will develop a Wi-fi digital solution service to disseminate promotional messages to users of Weixin, Tencent’s mobile […]
New US ambassador to China Max Baucus on Wednesday said his country will use diplomatic and legal means to impede China’s computer theft of trade secrets, Bloomberg reported. Relations have been strained since five Chinese military officers were indicted last month on charges of hacking US corporations for commercial ends. China rejected the charges and […]
US electronics retailer Best Buy (BBY.NYSE) is working with Bank of America Merrill Lynch on options for its China business, including a sale or partnership, The Wall Street Journal reported, citing unnamed sources. The Chinese business could fetch around US$300 million, although one person cautioned that it is too early in the process to set […]
Viacom (VIAB.NASDAQ)’s Paramount Pictures has resolved a dispute with Chinese property firm Beijing Pangu that threatened to delay the 27 June release of “Transformers: Age of Extinction” in mainland cinemas, Bloomberg reported, citing a statement by the studio on Monday. Pangu last week accused Paramount of failing to live up to a sponsorship accord and […]