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Chinese E-commerce Players Eyeing to Target Indian and Middle East Market

8Jul By AnkitaNo Comments

CHINA

Chinese E-commerce Players Eyeing to Target Indian and Middle East Market

Chinese e-commerce players are now targeting India and middle east countries markets due to high potential for economic growth as per the report in Chinese media today. According to a report from app data provider App Annie, five of the top 10 best performing cross-border e-commerce Chinese apps in the first five months such as Club Factory, SHEIN, ROMWE and JollyChic focussed on the Middle East and India markets. According to the report in Xinhua news, the Indian market enjoys a huge population and high potential for economic growth, thus attracting many e-commerce players to expand their presence. Smartphones are popular in Arab countries and local consumers have strong purchasing power. But the oil-rich countries lack textiles and other light sectors, offering cross-border e-co...

5Jul By Gauri SinghNo Comments

CHINA

China’s Baidu To Launch Autonomous Bus Service Apolong

Chinese technology giant, Baidu announced on Wednesday that the company has started with the massive production of Apolong, China’s very first autonomous mini-buses and will be launched very soon. The bus will seat 14 people in total and will carry passengers from tourist areas, parks, industrial campuses, airports and other locations. The Apolong is a level four autonomous vehicle, which means that the vehicle can work in enclosed places safely without any human interaction. "2018 marks the first year of commercialisation for autonomous driving. From the mass production of Apolong, we can truly see that autonomous driving is making great strides -- taking the industry from zero to one," said Robin Li, CEO of Baidu. The Apolong will be about one-third of the size of a normal bus and w...

29Jun By Gauri SinghNo Comments

CHINA

Ford and Baidu Partner To Build Smarter Cars in China

The American Multinational automaker, Ford has signed a contract with China’s biggest search engine company Baidu to introduce artificial intelligence and smart connectivity in cars in China. Ford is one of the most trusted auto company in the world and has claimed that it would develop new in-vehicle infotainment systems and digital services which will be based on Baidu's voice-interaction system, DuerOS. The Ford owners in China can make use of these features. The feature will enable the people to communicate and command their vehicles using natural language and allow people to easily access information and services that they need in daily life. "As part of our 'In China, For China' strategy, we look forward to working closely to offer smart products and solutions that can make pe...

22Jun By Lavina TolaniNo Comments

CHINA

China’s Baidu Tests Self-Driving Cars on Expressway

China’s search engine major, Baidu Inc. on Thursday tested its two self-driving cars on an unused expressway in north China's Tianjin City. As informed by the company, this was the very first time for Baidu's automated cars to be tested on the Tangshan-Langfang expressway which is scheduled to open later this year. The trial run conducted will enable developers to collect data on the car's performance in sensing the environment and self-control and positioning, a senior engineer with within the road test team said. Meanwhile, the Chinese giants have been quietly testing vehicles in China and trying to take over Silicon Valley tech giants. The companies battling a head-on competition with each other include Baidu, Tencent and Alibaba, all of which are investing heavily in the technolo...

9Jun By Gauri SinghNo Comments

CHINA

What is SCO Summit? How It Will Help Countries Like India, China & Russia

The Shanghai Cooperation Organisation (SCO) is an organization of countries which was introduced on 15th June 2001 in Shanghai, China. The organization was inaugurated by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan. It came into force on 19th September 2003. Currently, an SCO summit is organized in Qingdao, China which is ought to be attended by representatives of all the member countries along with our country’s Prime Minister Narendra Modi. Modi on Saturday morning departed for China to attend the two-day long 18th Shanghai Cooperation Organisation (SCO). WHAT IS SCO? The Shanghai Cooperation Organisation (SCO) is an international alliance that consists of 8 member states and 3 observers from Eurasia. SCO was born for collaboration between...

8Jun By Gauri SinghNo Comments

CHINA

China Plans to Import American Goods Worth $70 Billion

China has reportedly offered to buy agricultural and energy products worth $70 billion approximately from the United States as long as the Trump administration is not moving forward to impose tariffs against the country. This offer popped up during a meeting in Beijing held this weekend between Commerce Secretary Wilbur Ross and the Chinese economic adviser Liu He. The offer revolved all around a package that included that the Chinese companies would buy more of US farm and energy products such as soybeans, corn, natural gas, crude oil, coal and manufactured goods. The estimated value of the package, in this matter, was around $70 billion in the first year as stated previously. China's state-backed newspaper Xinhua said that China is willing to increase imports from other countries, ...

6Jun By Lavina TolaniNo Comments

CHINA

China’s ZTE Signs US Agreement to put itself Back in Business

ZTE Corp, China's leading telecommunication equipment maker has signed an agreement in principle that would lift a US Commerce Department ban on buying from US suppliers, as informed from the sources. ZTE had to cease its major operations post a seven-year ban imposed on the company in April when it breached the 2017 agreement and was caught shipping goods illegally to North Korea and Iran. The U.S. action which was first reported earlier in March had turn devastating for ZTE as China’s second-biggest telecom equipment maker relied heavily on U.S companies such as Qualcomm and Intel for up to a third of its components. While ZTE has refrained itself from commenting on the matter, a commerce department spokesperson has said that "no definitive agreement has been signed by both part...

3Jun By Gauri SinghNo Comments

CHINA

China Signs a Deal worth $390 billion with Belt and Road Countries

China has signed a contract regarding trade deals with the member countries of its enterprising 'Belt and Road Initiative'. As reported by the Chinese Ministry of Commerce, the deal worth USD 390 billion has been signed in the first four months of this year. The Belt and Road Initiative (BRI) is an expansion programme initiated in 2013 by the Chinese government the objective of which is to maintain connectivity and cooperation between Eurasian countries. The BRI's aim is to build trade and infrastructure networks linking economies around the whole world along the ancient Silk Route. At present, over 100 countries and international organizations have supported and became a part of this initiative. Gao Feng, the commerce ministry spokesperson confirmed the news and quoted,"China and coun...

1Jun By Lavina TolaniNo Comments

CHINA

China to Cut Import Tariffs on Consumer Goods By July 1

The Finance Ministry of China has announced to slash import tariffs on nearly 1,500 consumer products ranging from cosmetics to home appliances from July 1, a move that would boost imports as a part of efforts to open up the economy. This move will be in line with Beijing's pledge to its trade partners-including US that China will push efforts to increase imports offering a boon to global brands looking to extend their reach in China. A detailed list of products that will be affected by the new tax rates has been published by the finance ministry. Import tariffs on footwear, apparel, kitchen supplies will be halved to an average of 7.2 percent from 15.9 percent while refrigerators and washing machines tariffs will be reduced to 8 percent, from 20.5 percent. Skincare and cosmetic p...

Top 10 Most Valuable Brands in The World Right Now

29May By Lavina TolaniNo Comments

CHINA

Top 10 Most Valuable Brands in The World Right Now

A new list talking of world's most valuable brands has been released and dragon country China has bagged top spots for the very first time. Ranked at No. 9, Jack Ma's Alibaba has joined along with Chinese Tech Giant Tencent alongside behemoth stalwarts such as Google and Apple. Alibaba has witnessed its brand value go double to $113 billion as the e-commerce firm has diversified its portfolio landing into mobile payments and cloud computing. Meanwhile, Tencent too has managed to secure a place in BrandZ top 10 ranking in 2017 and has gone from strength to strength over the past year. With a brand value of 179 billion, up by 65% compared to the company holds the 5th place behind giants Google, Apple, Amazon (AMZN) and Microsoft (MSFT) but above Facebook (FB). The BrandZ ranking ...

26May By Lavina TolaniNo Comments

CHINA

WeChat Bans ‘Sugar Daddy’ Dating Service in China

An online dating application in China which lets wealthy older people to connect with young lovers has been subject to restrictions after a surge in popularity in the country as reported by state media on Friday. Called SeekingArrangement or "Sugar Daddy", is dating app has now been suspended from WeChat -- a popular Chinese messaging service similar to WhatsApp. The app was becoming intensely popular and was the most downloaded app on Apple Store China this week. The suspension came after Global Times a state run organisation linked with Communist Party in China-urged the government to shut down app's operations for promoting "sugar dating", a practice in which wealthy elite suitors are matched with with younger people in exchange for economic benefits or gifts. Lawyers in the co...

23May By Lavina TolaniNo Comments

CHINA

Foxconnn Unit To Raise $4.3 Bn in China Biggest IPO Since 2015

Foxconn Industrial Internet, often known as FII, which is the subsidiary of world's largest contract manufacturer Foxconn has announced to raise 27.1 billion yuan ($4.26 billion), a move that will mark mainland China's biggest IPO in almost three years. The Foxconn unit which is known to make electronic devices, industrial robots and cloud service equipment will offer 1.97 billion shares at 13.77 yuan per share in Shanghai, as per the company's statement filed on the stock exchange. Foxconn is a major Apple Inc supplier and with the proposed listing company wants to wean itself from the heavy dependence of manufacturing smartphones while diversifying into new areas. The Foxconn unit, which is known as FII and makes electronic devices, cloud service equipment and industrial robots,...