Media Focus on Multinational Corporations





Chinese major financial services provider Ping An Insurance (Group) announced an upgrade to its products, including deeper discounts and one-stop shopping, to provide more customized services and better consumer experiences. During an ongoing company marketing event till Feb 9, over 1,000 of its products, including insurance, banking, investment and financial technology, will be sold in a package or in a sales promotion. (China Daily)


Technology giant Tencent has inked an agreement with the Guangdong branch of China Telecom on Tuesday for further cooperation and upgrade of the latter's data center services on the mainland. The agreement inked by the Guangdong unit is the second by China Telecom, after a similar one by its Chongqing branch earlier. (China Daily)

COFCO International Ltd, a subsidiary of COFCO Group, China's largest food trader, announced on Thursday its partnership with what are known as the ABCD companies, to standardize and digitize global agricultural shipping transactions. The term ABCD refers to those four companies that dominate global grain trading, serving as middlemen between farmers and buyers. The groups are ADM Co, Bunge Ltd and Cargill Inc from the United States, and the Netherlands-based Louis Dreyfus Company. (China Daily)

Alibaba Group announced Monday that the operation of its fresh food business on Tmall Supermarket will be transferred from fresh produce e-commerce site Yiguo to Alibaba's new retailing arm Hema Xiansheng (Hema), marking a strategic upgrade within the grocery sector of the e-commerce giant. After the adjustment, Yiguo will pivot to business to business (B2B) services, empowering the retailing and food & drink sector within Alibaba's ecosystem including Hema Fresh, RT-Mart, Tmall Supermarket fresh food, and food ordering platform (National Business Daily)

Chinese car manufacturer Geely Automobile Holdings Limited ('Geely') has reached an agreement to set up a battery joint venture with the country's largest lithium battery maker Contemporary Amperex Technology Ltd (CATL). The companies said in their separate filing to the Hong Kong and Shenzhen stock exchanges last Thursday that Zhejiang Jirun, an indirect 99 percent owned subsidiary of Geely, and CATL entered into an agreement to establish a joint venture to engage in the research and development, manufacturing and sales of battery cells, modules and packs. (National Business Daily)

U.S. e-commerce giant Amazon on Wednesday announced 'a record-breaking holiday season' as tens of millions of people have signed up for its Prime membership either by making paid service or on a trial basis. 'Prime membership continued to grow this holiday season ... to benefit from FREE Same-Day, One-Day or Two-Day shipping, in addition to FREE two-hour delivery with Prime Now, and exclusive shopping and entertainment benefits,' Amazon said. (National Business Daily)


Japan's electronic product manufacturer Sharp Corporation Wednesday was reported to split off its semiconductor business. The company later made an announcement to verify the information, claiming the businesses to be separated from the company are the electronic equipment division with semiconductor business included and the laser division. The spin-off will take effect on April 1, 2019. (National Business Daily)

Chipmaker Qualcomm said on Wednesday it had asked a court in China to order an iPhone sales ban in the country. A lawyer representing Qualcomm said that under Chinese rules of civil procedure, Qualcomm has the right to ask a court to fine or detain Apple's four legal representatives in China or bar them from leaving the country. Qualcomm's lawyer, Jiang Hongyi, told the Global Times that according to Article 111, Paragraph 6 of China's civil procedure law, a court can fine or detain the principals or persons directly responsible if they don't carry out a court ruling. (Global Times)

The People's Bank of China (PBC) conducted 20 billion yuan ($2.9 billion) of seven-day reverse repos at an interest rate of 2.55 percent and 10 billion yuan of 14-day reverse repos at 2.7 percent, according to a PBC statement. The PBC said the operation was aimed at stabilizing capital supply at the end of the year and maintaining reasonably abundant liquidity in the banking system. (Global Times)

Huawei remains 'an important supplier' of access equipment in the 4G and 5G networks and fixed-line network of Britain's leading telecom service provider BT, a spokesman of the British company told the Xinhua News Agency recently. BT is not only the largest mobile operator in Britain but also the largest provider of consumer fixed-line voice and broadband services in the country. (Global Times)

UBS, the first fully licensed foreign-invested securities firm in China, said on Monday that it has become the first foreign bank to increase its stake to gain majority control of a securities joint venture in China. The Switzerland-based bank company said in a note sent to the Global Times that UBS has earlier received the approval from the China Securities Regulatory Commission to increase its shareholding in its securities joint venture in China, and UBS Securities Co has increased its shareholding from 24.99 percent to 51 percent. (Global Times)

The Bank of Lithuania has granted on Friday Google company an EU electronic money institution (EMI) license amid the country's efforts to become a regional fintech licensing hub. On Friday, EMI license has been issued to Google Payment Lithuania UAB, Lithuania-registered company controlled by Alphabet Inc., Google's parent company. (Global Times)