Media Focus on Multinational Corporations





Boeing Company on Tuesday successfully completed the first test flight of its self-driving air taxi—— autonomous passenger air vehicle (PAV) prototype. The PAV prototype completed a controlled takeoff, hover and landing during the flight. Powered by an electric propulsion system, it is designed for fully autonomous flight from takeoff to landing, with a range of up to 50 miles ( 80.47 kilometers). (China Daily)

China's WeChat Pay, in cooperation with the Galeries Lafayette Group's BHV Marais, launched a smart department store solution aimed at meeting Chinese tourists' needs, the Chinese company said in a statement late Tuesday. 'Following this cooperation, WeChat Pay is enhancing its effort in helping European businesses connect with Chinese tourists to realize WeChat's 'One For Billion' initiative (which) is its latest initiative of cross-border business,' the statement said. (China Daily)


Shanghai Disney Resort is making its second major expansion in less than three years of operation, signaling the ambition of media conglomerate The Walt Disney Co to meet China's growing appetite for quality themed entertainment. The resort announced on Wednesday the building of the world's first Zootopia-themed land in its latest park, featuring characters and stories from Disney's animated hit Zootopia. (China Daily)

The healthcare conglomerate Johnson & Johnson reported quarterly earnings on Tuesday, with both revenue and earnings per share beating Wall Street's estimates. The company said its sales hit $20.4 billion for the fourth quarter of 2018, an increase of 1.0 percent compared to the fourth quarter of 2017. (China Daily)

Foxconn Technology Group said it was planning to recruit more than 50,000 positions on the Chinese mainland in the first quarter despite big layoffs. The contract manufacturer indicated the reported changes in employee headcount were normal adjustments based on its global strategy and client needs, according to a statement released by Foxconn on Tuesday. (National Business Daily)

Xiaomi Corporation announced that it has spent around 100 million Hong Kong dollars (12.8 million U.S. dollars) last Friday buying back a total of 9,849,600 share Class B Shares on the market, 0.041 percent of the issued shares. (National Business Daily)

JD Group announced that it has completed the maiden flight of the logistics unmanned aerial vehicle (UAV) in Indonesia, marking the first overseas pilot of a Chinese logistics drones. This also represents the first unmanned cargo operation approved by Indonesia government. 'These tests are an opportunity for Indonesia to become a leader in the Southeast Asia region by leveraging drone delivery to improve access to vital medical, humanitarian, and commercial goods in remote areas,' said Timothy Reuter, head of drones and airspace, World Economic Forum. (National Business Daily)

Huawei Technologies launched the world's first core chip specifically designed for 5G base stations on Thursday in Beijing, securing its leading position for 5G deployments in spite of political pressure. The company has now secured 30 5G commercial contracts, over 50 percent of which are in Europe. (Global Times)

China's three State-owned oil giants are increasing their efforts in oil and gas exploration as a way of reducing China's reliance on overseas oil and gas imports. China National Petroleum Corp (CNPC) decided to increase risk exploration funds to 5 billion yuan ($735.8 million) from the current 1 billion yuan. Risk exploration refers to exploration that faces a high rate of failure but could lead to huge discoveries in oil and gas reserves. (Global Times)

Tesla Inc said on Tuesday it had received quotes from Tianjin Lishen to supply batteries for its new Shanghai electric car factory, but it had not signed any agreement with the Chinese company. (Global Times)