Singapore's Temasek Holdings Pte and GIC Pte have purchased $1 billion worth of shares in Alibaba Group Holding Ltd., as part of the $8.9 billion stocks sale by SoftBank Group Corp., currently the e-commerce giant's largest shareholder, Reuters reported.
The new round of grain price reform is hurting agricultural profitibality, observers have agreed. The reform changes the traditionally price-based mechanism into a market-oriented one.
Ad blockers have been installed on a little more than one-fifth of the world's smartphones based on a new report. It shows online ad blocking is spreading fast, which is having a major effect on publishers and other sites that rely on advertisements to earn revenue and stay in business. The annual study was sponsored by anti-ad blocking startup PageFair and software company Adobe.
China plans to entice its citizens to spend their money shopping in a duty-free paradise located in Hainan, rather than splurge in other countries’ big cities such as Seoul, Paris, Tokyo and Milan. With over 60 beaches and several luxurious resorts, Hainan is a fine spot for duty-free shopping, according to market analysts.
Mayor Xu Qin of Shenzen refutes media reports that huge telecommunications companies such as ZTE Corp. and Huawei Technologies have plans to follow about 15,000 other firms that have already left the city due to the increasing property and labor costs.
Self-driving cars could number 10 million in only four years based on some estimates. Tech and auto giants including Google and Ford, and ride-sharing companies such as Uber are already investing in autonomous vehicles (AVs). Some experts believe the first driverless cars on the road will be robot taxis.
At least 10 percent of the world’s satellites will be built and supplied by China by 2020, a leading space researcher told China Daily.
Apple is facing a lawsuit filed by California Institute of Technology (Caltech) based on its claim that the tech giant violated multiple WiFi patents. The private university is also suing chipmaker Broadcom. Caltech argues that most Apple devices since the iPhone 5 series, including iPhones, iPads, Macs and Apple Watches use Broadcom chips with Caltech decoding/decoding technology.
Starbucks plans to set up more retail stores in China as part of expansion efforts while trying to keep the brand’s allure to Chinese consumers, Forbes reported.
The Chinese firm responsible for a controversial detergent ad featuring a black man turning into a light-skinned Asian man in a washing machine has apologized after the commercial went viral online.
Facebook and Microsoft, two of the giant tech companies are working together to build the first ever high capacity underwater internet cable that will pass through the Atlantic. The MAREA cable will start in August and is expected to finish in October 2017.
China’s richest man Wang Jianlin unveils Dalian Wanda Group Co.’s Wanda City on Saturday as the first step toward overthrowing Walt Disney Co. from being the biggest tourism operator in the world.
The first-ever Disneyland in China appears to be doing well amid the country’s economic slowdown as nearly a million Chinese visit surrounding public areas way ahead of the park’s official opening on June 16.
The country’s aviation regulator is set to increase air rights and provide better allocation of international routes in a bid to push domestic airlines to participate in the global market, according to a Reuters report.
Chinese banks lead the list of the world’s biggest banks, while U.S. banks trail behind other global competitors.
