(Yicai Global) Dec. 24 — The Dalian Commodity Exchange, one of four futures exchanges on the Chinese mainland, will begin allowing overseas investors to participate in the futures trading of refined, bleached and deodorized palm olein, a type of palm oil, from today in order to exert more influence on global prices.
China imports all its palm oil, which is used in a wide range of commodities from cooking oil to animal feed. Around half of all the products in a supermarket, both edible and non-edible, are made with palm oil.
The DCE began trading in RBD palm olein…
(Yicai Global) Dec. 14 — BEST, a leading Chinese smart supply chain and logistics services provider, will launch Vietnam’s most productive sortation center to respond to the growing express delivery demand fuelled by Southeast Asia’s booming online economy.
BEST will open a 35,000 square-meter sortation center in Ho Chi Minh City, Vietnam, ahead of the approaching holiday season when the corporate and consumer demand for parcel processing is expected to peak, the Hangzhou-based company announced on Dec. 11.
(Yicai Global) Nov. 10 — When Jollybuyer, an e-commerce site selling casual clothing to Southeast Asia from China, held a live-streaming campaign Nov. 7 for its “Double 11” promotion, more than 30,000 consumers from Thailand visited the virtual showroom, triple the number of usual views. This is how heated the Singles’ Day shopping festival is in Southeast Asia.
Cross-Border E-Commerce Shipping
To help e-commerce vendors prepare for the sales peak of the annual promotion, BEST Inc., a leading integrated supply chain and logistics services provider, started working with Jollybuyer on cross-border shipping solutions two months in advance. With warehouses for…
(Yicai Global) July 16 — Cinemas in China’s low-risk regions for Covid-19 can reopen on July 20 after a six-month pause, which is giving a ray of hope for entertainment companies.
Movie theaters will still need to leave 70 percent of their seats empty during each screening to ensure that the safety of their customers, the China Film Administration said in a statement today. Moviegoers need to book online with their real names.
The announcement was welcomed by investors. Shares of China’s biggest cinema operator Wanda Film Holding [SHE:002739] jumped as much as 8.8 percent intraday today, and…
(Yicai Global) July 15 — China will further support the development of fresh business ideas such as those related to e-commerce and live-streaming to create new jobs along with rising consumption.
The government will reduce the cost of starting an online business and hiring, some 13 central government departments said in a guideline issued today. Side gigs and digital transformation are also encouraged.
Editor: Emmi Laine
(Yicai Global) July 14 — Chinese communications equipment maker ZTE recently issued its first fifth-generation wireless network-based indoor router, the MC801A, jointly with Africa’s largest multinational telecom operator MTN Group, ZTE said on its website yesterday.
The router supports non-standalone and standalone 5G networks and is compatible with major 4G and 5G frequencies. It affords access to high-speed 5G networks to users with compliant devices as well as services on 4G smart terminals and Wi-Fi terminals.
Shenzhen-based ZTE has been working with its partners worldwide to accelerate commercial use of its 5G terminals and has reached cooperation with more than 30 operators, Yicai Global has learned.
Editor: Ben Armour
(Yicai Global) July 13 — Chinese tech titan Tencent Holdings is in talks with and has signed a framework agreement to buy out and take gaming firm Leyou Technologies Holdings private, Leyou announced. Its shares rose 3.11 percent to HKD2.99 (39 US cents) as of 11:00 on the news.
Tencent, which is China’s largest video game developer, edged out its rivals, including Japan’s Sony, to secure the right of first refusal for the acquisition, Hong Kong-based Leyou said in a statement it released on July 10.
The buyout may go through, per the statement, which omitted financial details, and hedged with the caveat no certainty exists any agreement will ultimately eventuate. The exclusive option agreement the two signed is, however, valid for three months, Leyou said.
Editor: Ben Armour
(Yicai Global) July 10 — As China deals with weeks of heavy rainfall, flooding in southern parts of the country has affected 30.2 million people and caused a direct economic loss of CNY61.8 billion (USD8.8 billion) as of yesterday afternoon, according to official data.
Editor: Emmi Laine
(Yicai Global) July 8 — More than 10 million tourists should visit Lin-gang Special Area in the Shanghai Free Trade Zone each year in the next three years, according to an official at the local administration.
Lin-gang will become a unique first-choice resort and family destination in the Yangtze River Delta over the next three years, Hu Zhiqiang at the area’s management committee said at a press conference yesterday.
During the recent five-day Labor Day holiday, Lin-gang welcomed about 184,000 tourists, and the highest daily figure surpassed 50,000, Hu added.
The 386-square-kilometer area, located nearby Shanghai’s Pudong International…
(Yicai Global) July 7 — Haidilao International Holding’s shares rose today even though the expanding Chinese hotpot chain said that expects to report a net loss in the first half of this year due to Covid-19.
Haidilao’s stock price [HK: 6862] climbed 3.5 percent to HKD37 (USD4.80) this afternoon.
The firm’s revenue should fall by 20 percent from a year ago, the Beijing-based company said in a statement today. It made CNY11.7 billion (USD1.7 billion) in revenue and CNY911 million (USD129.9 million) in net profit in the first half of last year.
The restaurant chain that also offers…