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July, 2, 2016

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China > Business
Didi Chuxing has completed a $7.3 billion round of financing-a huge chunk of money that will give China's largest ride-hailing platform a bigger war chest to fend off Uber Technologies Inc in its home market.
 
'Distinctly Chinese' Disney park opens in Shanghai
Walt Disney Co. opened Shanghai Disneyland, its first theme park in China, with a lavish celebration Thursday featuring Chinese Communist Party (CCP) leaders, a children's choir, Sleeping Beauty and other Disney characters.
 
Didi Chuxing raises US$7.3 bil. in new capital
Chinese ride-hailing app Didi Chuxing, a bitter rival of U.S.-based Uber, has raised US$7.3 billion in one of the world's largest private equity financing rounds, the company said in a statement Thursday.
 
Xiaomi teams up with China Unicom to boost offline sales
Chinese smartphone vendor Xiaomi Corp has teamed up with the country's second-largest telecom carrier, China United Network Communications Group Co, to expand its offline retailing channels.
 
As many tourists are expected to visit Shanghai Disneyland, which opens on Thursday, local hotels, both budget and high-end ones, have prepared packages to receive them.
 
Uber Technologies Inc announced on Wednesday a new business initiative focusing on providing ride-hailing services to China's increasingly affluent tourists, a move to grab more market share from local rival Didi Chuxing.
 
China's largest private property developer, the Wanda Group, has teamed up with basketball's international governing body in a multimillion-U.S.-dollar marketing deal as it expands its global presence in sports.
 
Airbus sees China overtaking US in civil helicopter buying
Airbus Helicopters, the top player in China's civil helicopter market, believes China will surpass the United States to be the world's biggest civil helicopter market soon-and aims to increase its market share from the current 40 percent to 60 percent by 2020.
 
Mainland China on Wednesday brushed off stock index firm MSCI's decision to exclude the country's A shares from its influential global equities index, saying that the gauge cannot be complete without the Chinese stocks.
 
Masteel to make high-speed wheels to replace imported ones
China's domestically produced wheels for high-speed trains traveling faster than 250 kilometers per hour will be ready to replace the imported ones as early as in the first half of 2017, according to a leading Chinese train wheel maker.
 
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