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July, 26, 2016

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China > Business
Ali Health buys out an internet transaction licensed medicine company for $2.5m
Alibaba Health Information Technology Ltd (Ali Health), a healthcare subsidiary of Alibaba Group Holding Ltd, announced it bought full ownership of Guangzhou Wuqiannian Medicine Co Ltd on Wednesday for 16.8 million yuan ($2.5 million), according to a report by techweb.com.cn.
 
Chongqing turning into coffer trade powerhouse
Chongqing, a municipality in southwestern China, might have seemed like an unlikely place for a coffee trade center before the city announced the establishment of the Chongqing Coffee Exchange in June.
 
5G heralds driverless cars
Visualize this seemingly futuristic scenario: you set out in your car for a long-distance trip. Only, you don't sit behind the wheel to drive.
 
Tencent Holdings Ltd has announced that it will fully open up its big data platform and machine learning technology in a move to build a "sharing economy" based on cloud services.
 
Chinese appliance giant Midea has secured majority control in German industrial robotics supplier Kuka, it said Thursday, with a multi-billion-euro offer that stoked controversy in Europe.
 
Postal Savings Bank of China files prelisting documents
Postal Savings Bank of China Co Ltd, gearing up for an $8 billion initial public offering in Hong Kong in the second half of this year, on Monday published its IPO prelisting application on the website of the city's stock and futures market operator-Hong Kong Exchanges and Clearing Ltd.
 
Pierre & Vacances-Center Parcs Group joins HNA to bring in French style
France's largest vacation real estate company Pierre & Vacances-Center Parcs Group and Hainan Airlines Co Ltd will build three vacation sites with an area of more than 300 hectares in China, to bring the French leisure vacation lifestyle to the Chinese market, the two companies said in Paris and Beijing on Monday.
 
China's commerce ministry: Brexit impact will not last long
Global currency fluctuations caused by the Brexit vote won't continue for long and won't affect long-term outbound investments by Chinese companies, the Ministry of Commerce said on Tuesday.
 
Alibaba pays $200m for Wandoujia app store
Chinese e-commerce conglomerate Alibaba Group Holding Ltd said on Tuesday that it will take over Beijing-based Wandoujia, a major Android app store, with the aim of gaining a firmer foothold in the domestic app distribution market.
 
AI startup Lingban Technology launches new voice-recognition product
Chinese artificial intelligence startup Lingban Technology Ltd launched a new voice-recognition product, after the two-year-old startup raised near 100 million yuan from investors.
 
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