Media Focus on Multinational Corporations





On Tuesday, Chinese company China Railroad Rolling Stock Corp (CRRC) delivered the first trains it produced for Boston’s subway system MBTA at its US manufacturing facility located in Springfield, MA. It will produce 404 trains in total for MBTA’s red and orange lines. The facility employs over 200 local workers, and is set to subway trains for Boston, LA and Philadelphia.(China Daily)

Airbus has delivered the 400th A320 Family aircraft from its Final Assembly Line Asia (FALA) in northern China's Tianjin municipality, announced Airbus China Tuesday. The A320neo airplane was delivered to Air China, the country's national flag carrier, representing another milestone of the industrial cooperation and partnership between Airbus and China's aviation industry, said Airbus China. (China Daily)


Google announced that it will spend more than $1 billion to build a new office complex in New York City that will double the number of people it reemploys in the city to 14,000. The 1.7 million-square-foot campus along the Hudson River in the city’s West Village neighborhood, called Google Hudson Square, will be the main location for Google’s advertising sales division, the Global Business Organization. (China Daily)

Futu Securities International, a Hong Kong-based online brokerage firm invested by Tencent Holdings, has filed confidentially for a U.S. initial public offering (IPO) of up to 500 million U.S. dollars, Reuters reported Wednesday citing sources with knowledge of the matter. The Internet securities company is targeting a valuation of approximately 2.5 billion U.S. dollars and plans to make its debut in New York in early 2019, according to the Reuters report. (National Business Daily)

 Chinese state-owned automaker SAIC Motor Corporation Limited (SAIC Motor) is setting foot on the online ride-hailing sector by launching its mobility brand 'Xiangdao Chuxing' Tuesday. During a one-month trial period, the ride-hailing platform has gained 600,000 registered users and offered over 300,000 rides. (National Business Daily)

U.S. electric automaker Tesla is to begin construction of its Gigafactory 3 in Shanghai. The total investment of the project hit 7.3 billion U.S. dollars, with initial injection of 2.3 billion U.S. dollars, the 21st Century Business Herald reported. In October this year, Tesla announced it has won the bid for a land in shanghai's Lingang industrial zone, and two months later, Shanghai government revealed the field leveling for the land was almost completed. (National Business Daily)


Retailers and companies are offering deeper discounts and exciting promotions to attract more shoppers to retail outlets, stores and restaurants as shopping demand continues to surge in China. Buoyed by the enthusiastic response to the December 12 shopping festival, e-commerce giant Alibaba Group has expanded the promotions to its newly formed local service entity-Koubei, a restaurant review and service app and its food catering arm (National Business Daily)

Striking against China's Huawei is an 'absolute hegemonic act' in the technology sector, as some countries have politicized normal technological cooperation and banned Chinese technology companies like Huawei by citing security reasons without providing solid evidence, the Chinese Foreign Ministry said on Wednesday. The US and its major allies including Australia, New Zealand, the UK and Japan have flagged Chinese telecoms equipment producers over security issues and urged their local carriers to drop plans to work with Huawei.  (Global Times)

US top aircraft maker Boeing Company (Boeing) announced Monday an investment of 4.2 billion US dollars in taking the majority control of a commercial joint venture with Brazil's aviation giant Embraer. The new deal, which is subject to the approval of the Brazilian government, regulators and investors, will allow Boeing to take 80 percent of ownership stakes in the joint venture, with Embraer holding the rest 20 percent, Boeing said in a statement Monday.  (Global Times)

US tech giants Google and Facebook have agreed to pay up to 455,000 US dollars for alleged failure to comply with the transparency regulations of Washington State over political advertising. Google will pay 217,000 dollars and Facebook 238,000 dollars for not maintaining information for political advertising under Washington's campaign finance laws, which requires the two companies to disclose who is paying for campaign ads on their sites. (Global Times)

Chinese automaker Dongfeng Motor Corp is planning to enter the Russian market to offer car-sharing services, a media report said. Wang Peng, general manager of Dongfeng's Russia branch, said that the company is talking with Russian car-sharing companies in an effort to cater to the development strategy of the Russian car industry. (Global Times)

HBIS Group, China's second-biggest steelmaker, has signed a memorandum of understanding on a $4.4 billion project in the Philippines that will eventually produce 8 million tons of steel per year, according to Chinese media reports and a statement from the Philippines. The so-called Philippine Iron and Steel Project will be the Southeast Asian country's first integrated steel complex and represents the biggest industrial investment from China in the Philippines to date. (Global Times)