Media Focus on Multinational Corporations





Huawei launched a new cloud storage strategy called All-Flash on Tuesday, including its new generation speed cloud drive, which propels the speed of Huawei cloud storage solution hitting the microsecond level. The move will help expand the Chinese high-tech company's cloud storage portfolio for enterprises.  (China Daily)

Walmart has decided to invest around 8 billion yuan (about 1.17 billion U.S. dollars) in the next decade to upgrade its logistics and supply chains in the Chinese market. The new investment will be used for building or upgrading over 10 distribution centers to boost online and offline business to meet demands from Chinese customers for fresh goods and convenient services. (China Daily)

US tech heavyweight HP Inc is looking to tap into China's gaming market to grow its personal computer business. Jason Juang, HP China managing director, said that 'Boasting 619 million e-gamers, China is now the world's largest gaming market. Such a sprawling size has triggered changes in what consumers demand.' (China Daily)

ABB Group will open a new innovation center in Shenzhen, Guangdong province, in the second half of this year to locally provide solutions for smart building development, said an executive. As China is seeking new ways to promote energy efficiency and minimize carbon emissions to design healthier environments in its cities, ABB is now experiencing fast growth in the areas of intelligent building and related electrical businesses. (China Daily) 

Auto sales slumped for most top carmakers in the second quarter of 2019, a sign that an international boom in purchasing is ending as the industry grapples with changing customer demand and increasingly stringent regulatory environments in countries around the globe. In the U.S., Fiat Chrysler, General Motors and Ford are locked in an intensifying battle over pickup sales, one of the biggest profit drivers for the so-called “Big Three.” (National Business Daily)


Johnson & Johnson unveiled its innovation arm JLABS in Shanghai on Thursday, which is the world's largest of its kind and the first in the Asia-Pacific. Located in eastern Shanghai's Zhangjiang Hi-Tech Park, the 4,400-square-meter JLABS in Shanghai is able to accommodate more than 50 startups. (National Business Daily)

Google’s Waymo is partnering with Nissan Motor Co. and Renault  to explore the development of self-driving vehicles, the latest tie-up between Silicon Valley and legacy auto manufacturers centered on autonomous technology.  (National Business Daily)

Swiss pharmaceutical giant Novartis AG plans to submit applications for 50 innovative drugs focusing on unmet medical needs in China by 2023, riding the wave of streamlined and accelerated new drug approvals in the country. Most of the drugs will target major diseases plaguing Chinese patients such as cardiovascular, eye and respiratory diseases, and tumors, John Tsai, head of global drug development and chief medical officer for Novartis. (National Business Daily)


Samsung Electronics is likely to say their second-quarter profit has been more than halved when it reports preliminary earnings on Friday, data showed, as a drop in memory chip shipments to China's embattled Huawei exacerbated a price-squeezing supply glut. (Global Times)

Boeing Company announced Wednesday that it has set aside 100 million U.S. dollars to address family and community needs of those affected by two deadly air crashes in Indonesia and Ethiopia last October and this March. Boeing said the funds are an initial investment to be paid over multiple years to support education, hardship and living expenses of the families of the victims who were killed in the 'tragic accidents' of Indonesian Lion Air Flight 610 and Ethiopian Airlines Flight 302. (Global Times)

Amazon halted paper book sales on its self-operated channel as of Monday in China and will halt its services for third-party sellers starting from July 18. Amazon's customer services said more businesses in the Chinese market will be shut down except for its cross-border e-commerce business and Amazon Web Services (AWS). (Global Times)

Tesla Inc has set a record for quarterly vehicle deliveries in a triumphant response to months of questions about demand for its luxury electric cars. Tesla did not comment on profit - which is still elusive - but the robust deliveries could help jumpstart investor sentiment on Tesla, which has been challenged in recent months. (Global Times)