Media Focus on Multinational Corporations[2021.04.12]





McDonald’s will close hundreds of locations in Walmart stores as pandemic changes shopping habits

McDonald’s is closing hundreds of restaurants inside of Walmart as the pandemic shakes up consumers’ shopping and dining patterns.

The fast-food chain will keep about 150 locations at Walmart stores.

The big-box retailer said it plans to convert former McDonald’s locations into other types of restaurants and services, including some with a more regional feel or unique spin.

Xinhua Headlines: ExxonMobil breaks ground on multibillion-dollar chemical complex in China

GUANGZHOU, April 22 (Xinhua) -- Multinational oil and gas corporation ExxonMobil Wednesday broke ground on its solely-funded chemical complex in Huizhou, southern China's Guangdong Province, a sign of China's rebounding economy as the impact of the COVID-19 pandemic subdues.

A special 'cloud ceremony' was held online with video connections linking the Huizhou Dayawan Petrochemical Industrial Park, the Great Hall of the People in Beijing and Dallas of the United States.

Chinese Vice Premier Han Zheng in Beijing attended the online commencement of enabling projects for ExxonMobil Huizhou project.

Around 11 a.m., Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, announced the start of construction work for the project.

Alibaba's $2.78b fine shows emphasis on fairness

The record $2.78 billion antitrust fine on Alibaba Group Holding Ltd sets a milestone for China's antitrust efforts, which the country is using to maintain fair market order for healthy development of the internet economy, experts said.

Lenovo's Yang donates 100 million yuan to university

Yang Yuanqing, chairman and CEO of Chinese tech giant Lenovo Group Ltd, said on Saturday he will donate 100 million yuan ($15.26 million) to Shanghai Jiao Tong University to build a state-of-the-art, green liquid-cooling, high-performance computing center at his alma mater.

The center will improve the university's computing capabilities, facilitate basic research and innovation, support the cultivation of talent, and help tackle the common challenges faced by humanity.


SOE Poly Group sews up 2021-25 growth plan

China Poly Group Corp Ltd, or Poly Group, the Beijing-headquartered, centrally administered State-owned enterprise, will deploy more resources in technology, engineering projects and finance to further diversify its growth pattern during the 14th Five-Year Plan period (2021-25), said its senior executives.

The diversified conglomerate has three pillar businesses-trade, real estate and management of culture-and art-related ventures. Its new moves will enhance the company's competitiveness, and strengthen its role as one of China's State-owned capital investment companies, said Liu Hualong, the group's chairman.

Online travel agency Ctrip plans secondary listing in HK

Chinese online travel agency Ctrip announced its decision to list on HKEX (the Hong Kong bourse) on April 7, according to a report by The Paper citing a term sheet released by the company.

Sinopec's shale gas production on the rise

Chinese oil and gas giant Sinopec, or China Petroleum and Chemical Corp, announced on Tuesday its Fuling shale gas field has produced more than 1.78 billion cubic meters of shale gas during the first quarter of the year, up almost 20 percent compared with the same period last year.

BeiGene wins approval for commercial manufacturing of antibody

Chinese biotech company BeiGene Ltd announced on Thursday the approval from the China National Medical Products Administration to begin manufacturing commercial supply of its approved anti-PD-1 antibody, tislelizumab, at its biologics facility in Guangzhou, Guangdong province.

With the currently approved capacity of 8,000 liters of biologics for commercial supply, the wholly owned facility will immediately begin production to ensure supply of tislelizumab to the market.


BHP eyes strong commodity sales in nation

Mining giant BHP Group anticipates more growth opportunities in China thanks to the country's high-quality urbanization, a top company official said.

'China's future is one of increasing opportunities and prosperity, and one of the most important contributions that BHP can make to China is ensuring that the commodities we produce are supplied to our customers as reliably and as efficiently as possible,' said Mike Henry, CEO of BHP Group Ltd, during an interview on Tuesday.

GM commits to deliver advanced technologies

General Motors has accelerated its electrification process in China with the commitment to introduce more advanced technologies to the Chinese market, in pursuit of a clean and intelligent future.

According to Julian Blissett, GM's executive vice-president and GM China president, the company will achieve carbon neutrality across the world by 2040. It plans to achieve zero emissions of all new light vehicles by 2035.

To achieve that, GM plans to invest $27 billion in the electric vehicle and autonomous driving sectors by 2025.


BYD building all its EVs with 'safer' blade-shaped battery

Auto manufacturer BYD produced a total of 100 million face masks a day at its peak last year to help safeguard people's health amid the COVID-19 outbreak. BYD also hopes to perform better in ensuring people's safety with its self-developed blade-shaped battery.


Microsoft in talks to buy Nuance Communications for around $16 billion: reports

Microsoft Corp. is in advanced talks to buy speech-recognition company Nuance Communications Inc. in a deal valued at about $16 billion, according to multiple reports Sunday.

Bloomberg News, Reuters and CNBC each reported Microsoft could pay $56 a share, a 23% premium as of Friday’s closing stock price. If successful, the acquisition would be Microsoft’s second-largest ever, behind 2016’s $24 billion purchase of LinkedIn. All three reports said an announcement may be made in the coming days.

CNBC reported Nuance’s transcription tools would fit into Microsoft’s offerings for business and governments.