Media Focus on Multinational Corporations





China National Petroleum Corporation (CNPC), the country's largest oil and gas producer and supplier, reported strong output and sales in January. The company's Daqing Oilfield, China's largest oilfield situated in the northeastern Heilongjiang province, saw crude oil output reach 2.73 million tons, exceeding the monthly target by 0.8 percent, according to a CNPC announcement. (China Daily)

China's CRRC Changchun Railway Vehicles Co Ltd, the State-owned train manufacturer, received a second order from Sydney for its double-decker trains, the company announced on Tuesday. The order includes a total of 17 double-decker trains and post-delivery maintenance in Sydney. The deal's worth has not yet been disclosed. CRRC Changchun said it will design and manufacture the trains and its Australian partner, Downer EDI, will provide maintenance support. (China Daily)


Amazon's decision to pull out of a planned corporate campus in New York City might came as a victory for those who strongly opposed its presence, but some argue that it's a major loss for the city in the long run. In an unexpected announcement, the Seattle-based company said on Thursday it would not build a new headquarters in Long Island City due to opposition from 'some state and local politicians.' Amazon said it made the decision 'after much thought and deliberation.' (China Daily)

Zhao Jingwen, a former executive director of China's CITIC Group, is being investigated for suspected violations of Party disciplinary rules and laws, according to the top anti-graft agency on Wednesday. He is being investigated by the Communist Party of China Central Commission for Discipline Inspection and the National Supervisory Commission. (China Daily)

The United States tech giant IBM announced it has signed a $63 million agreement with the Industrial and Commercial Bank of China, the world's largest commercial bank, to help the latter's Argentina branch accelerate its digital transformation over the next five years. IBM will allow the bank to improve response time by predicting 75 percent of specific system failures, understand online user behavior and preferences in its home banking platform and reduce up to 30 percent of client queries through online services powered by AI platform Watson. (National Business Daily)


Daimler Greater China Ltd will follow BYD Co Ltd to invest 29.6 million U.S. dollars in Shenzhen Denza New Energy Automotive Co Ltd, a joint venture built by BYD and DGRC in February 2011 with their stakes in the company standing at 50 percent respectively, an anonymous person familiar with the matter disclosed to NBD. BYD has confirmed the information to NBD. (National Business Daily)

Alibaba has increased stake in the country's most prestigious investment bank China International Capital Corporation (CICC), a further move in the financial sector after buying stake in Huatai Securities last year. Alibaba bought 117 million CICC's H-shares at an average price of 15.5 Hong Kong dollars. Currently, it owns a 4.84 percent stake in the investment bank, making it CICC's third largest shareholder behind Tencent and Central Huijin, a unit of China's sovereign wealth fund China investment Corp. (National Business Daily)

SF Holding Co Ltd announced the conclusion of the deal with international logistics giant Deutsche Post DHL on Tuesday in a statement to the Shenzhen Stock Exchange. The Chinese company signed an agreement to buy 100 percent stake in DHL's supply chain and logistics operations covering mainland China, Hong Kong and Macau for 5.5 billion yuan in cash through a fully-controlled subsidiary last October. (National Business Daily)

Latvia's mobile operator Bite Latvija said earlier this week it will continue building its 5G infrastructure in partnership with Huawei. A security check conducted by Bite Latvija had revealed no risks associated with the Chinese telecom giant, Bite Latvija technical manager Gints Butens said, adding that the company hires independent experts to audit its network on a regular basis. (Global Times)

Apple has again pulled a large number of apps from its well-known app store in China. Analysts noted that the company is increasingly intolerant of violations of its own regulations and Chinese laws, as its charm among Chinese consumers wanes. Work networking platform Maimai, karaoke app Yinyu, and voice-messaging and entertainment platform Hello were among an estimated 700 apps that were removed from Apple's China app store recently. (Global Times)

Airbus is to cease production of its A380 superjumbo passenger jet in 2021 because of a significant fall in demand. The A380, which can hold up to 800 passengers, has been in production since 2007 and its main buyer was Emirates, but they have cut a planned order of 53 planes to just 14, opting to buy more of Airbus’s smaller, more efficient A330 and A350 aircraft. (Global Times)

BOE Technology Group Co has surpassed South Korea-based LG to become the world's largest supplier of liquid crystal display TVs and monitor panels, according to market research company Sigmaintell Consulting. BOE shipped 54.3 million TV panels in 2018. By comparison, LG's figure stood at 48.6 million, said a posting on Wednesday on, which cited Sigmaintell Consulting statistics. (Global Times)