Media Focus on Multinational Corporations





Alibaba inked an agreement with the federal government of Belgium on Wednesday to open its first Electronic World Trade Platform (eWTP) in Europe with the aim of promoting long-term cross-border trade. The agreement was signed by Belgium's Deputy Prime Minister Kris Peeters and Senior Director of the Alibaba Group James Song. Belgian Prime Minister Charles Michel and Alibaba Group President of Global Business Angel Zhao, were present witnessing the signing of the memorandum of understanding.(China Daily)


China Mobile International Limited (CMI) will join the SmartHub Data Center of Etisalat multinational telecom operator based in the United Arab Emirates (UAE) to improve CMI's expansion in the Middle East region. Through the deal, CMI will have presence in the Middle East to support its global infrastructure, interconnections, capacity and expand its reach into the Middle East and Africa, according to the report. (China Daily)


British network provider BT has confirmed it will not consider bids from Chinese telecommunications company Huawei for 5G network contracts. The decision comes after UK security officials and those in other nations have placed increasing pressure on network providers to review their dealings with Chinese telecommunications companies. (China Daily)

In 2018, Walmart's global revenues in the third quarter reached $124.9 billion, up 1.4 percent year-on-year. In 2017, its total revenue worldwide was $485.9 billion, up 3.1 percent year-on-year, yielding gains of $14.5 billion, which will return to shareholders through dividends. Walmart has more than 400 stores in over 180 Chinese cities. The retailer said it plans to open 30 to 40 more new stores every year, and it will build more intelligent stores that utilize advanced technologies. (China Daily)

The China Securities Regulatory Commission last Friday announced that it had approved Swiss financial titan UBS Group AG (UBS)'s application to increase the company's stake in its securities joint venture in China, UBS Securities Co. Ltd. (UBS Securities), to 51 percent. China has vowed to grant foreign investors wider access to its financial markets, including allowing foreign firms' 51-percent ownership of their brokerage ventures, up from the previous 49 percent. (National Business Daily)


Robust third-quarter sales growth in China and some key markets is making U.S. retail giant Walmart Inc upbeat about full-year earnings prospects. Investments in e-commerce and a home delivery system for groceries are further boosting its confidence. (National Business Daily)

Yang Xu, president of Intel China, said promoting the development of AI is a brand-new marathon, which demands deepening collaboration within and among well-established ecosystems. According to Xu, the company will step up the push to explore the opportunities in China's AI market, which is expected to be worth about 9 billion U.S. dollars in 2022 from 900 million U.S. dollars in 2017. (National Business Daily)


China's e-commerce giant on Thursday launched its first robot courier station in Changsha, capital of central China's Hunan Province. The delivery station covering 600 square meters has a team of 20 robot couriers, serving customers within a range of 5 km from the station. Liu Qiangdong, director of JD's autopilot center, said the robots can handle 2,000 deliveries a day. (National Business Daily)

US aerospace giant Boeing Company (Boeing) Wednesday signed a five-year agreement with Britain-based ELG Carbon Fibre (ELG) to recycle aerospace waste materials from Boeing factories in the United States. Under the deal that is the first of its kind in the aerospace industry signed by the two companies, Boeing said it will provide ELG with excess aerospace-grade composite materials from Boeing's 11 manufacturing sites for recycling. (Global Times)

The SoftBank-led Vision Fund is hiring a team to be based in China as the $100 billion investment giant expands in one of the world's most vibrant technology markets, two people with direct knowledge of the move told Reuters. The Vision Fund plans to open its first China office in Shanghai next year, followed by Beijing and Hong Kong. In total, it hopes to hire about 20 staff, said the people, who declined to be identified as the information was confidential.  (Global Times)

The People's Bank of China (PBC), the central bank, has launched a crackdown on retail stores that refused to accept cash as payment, in support for older residents who prefer to use cash instead of mobile payments. The PBC has dealt with 602 cases of cash rejections, including one involving Alibaba's Hema supermarket, and it ordered companies to add cash payment lines. (Global Times)

Google CEO Sundar Pichai will testify before US House of Representatives Judiciary Committee next Tuesday over the company's transparency and privacy policy, as well as data collection and use. The hearing will focus on Google's 'data collection, use and filtering practices,' according to the committee's announcement, and Pichai is expected to answer questions from lawmakers over alleged bias against conservative content on its platform. (Global Times)