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1 week ago | 
yicaiglobal.com | Liao Shumin
(Yicai) May 8 -- Alibaba Group Holding’s e-commerce business group Taobao and Tmall Group has deepened its partnership with Chinese social media platform Xiaohongshu to facilitate cross-platform shopping. Xiaohongshu users can tap on product links embedded in recommendation posts to be redirected to the Taobao app and complete their purchases, creating a seamless shopping experience, Taobao and Tmall Group announced yesterday.
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1 week ago | 
yicaiglobal.com | Liao Shumin
(Yicai) May 6 -- Shares of WeRide dropped after the Chinese developer of autonomous driving technologies and Uber Technologies agreed to deepen their alliance and deploy robotaxi services in 15 additional cities globally over the next five years, including some in Europe. WeRide [NASDAQ: WRD] closed 6.8 percent lower at USD6.85 a share yesterday.
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2 weeks ago | 
yicaiglobal.com | Liao Shumin
(Yicai) April 30 -- Chinese coffee chain Luckin Coffee has appointed the chief executive officer of its largest shareholder Centurium Capital as its new chairman. Luckin’s Chairman and CEO Guo Jinyi will resign from the chairman position, and Centurion Capital’s Chairman and CEO Li Hui will replace Guo as the firm’s new chairman, Luckin announced yesterday. Guo became Luckin’s senior vice president of product and supply chain in October 2017.
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2 weeks ago | 
yicaiglobal.com | Liao Shumin
(Yicai) April 30 -- Tumbling oil prices could present opportunities for cash-rich firms like China National Offshore Oil Corporation, which benefits from low per-barrel production costs, to snap up cheap assets, The Paper reported today, citing the president of the country’s largest offshore producer of crude oil and natural gas.
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3 weeks ago | 
yicaiglobal.com | Liao Shumin |Liu Jia
(Yicai) April 23 -- IQiyi has launched a new e-commerce livestream business in a bid to shore up flagging revenue at the Chinese video streaming site. The e-commerce venture will center on live broadcast product sales tied to its own intellectual property, artists, and celebrities, with its vast subscriber base expected to form the core consumer group for this initiative, Chief Executive Gong Yu said today at this year’s iQiyi World Conference. The new service is still in trial operation.
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4 weeks ago | 
yicaiglobal.com | Liao Shumin
(Yicai) April 17 -- Douyin, the Chinese version of TikTok, said it will launch a special support program for foreign sellers of premium goods, including lowering commission fees and offering interest-free loans to ease cash flow pressures to help them expand into the domestic market. Douyin will open exclusive entry channels for foreign traders aiming to shift to China sales, the short-video platform announced yesterday.
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4 weeks ago | 
yicaiglobal.com | Liao Shumin
(Yicai) April 16 -- Wildberries, one of Russia's largest e-commerce platforms which began accepting Chinese sellers last year, is looking to expand its business presence in China and attract more local merchants by offering streamlined shipping options and a new seller incentive program. Wildberries, a leading marketplace for clothing, shoes, and electronics, launched the "Star Program" for young entrepreneurs in China, the Moscow-based competitor of Ozon and Yandex.Market announced yesterday.
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1 month ago | 
yicaiglobal.com | Liao Shumin
(Yicai) April 15 -- Cellasto, a noise, vibration, and harshness reduction components manufacturer under German chemical giant BASF, said it will invest around EUR60 million (USD67.9 million) to build a second Shanghai factory. The production expansion aims to capitalize on China's rapidly growing electric vehicle market, Cellasto announced yesterday. The new plant will have advanced mold lines, resulting in a capacity surge of almost 70 percent, with operations likely to start in 2027, it added.
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1 month ago | 
yicaiglobal.com | Liao Shumin
(Yicai) April 14 -- The fifth China International Consumer Products Expo, which boasts more exhibitors and brands than last year’s event, got underway in southern Hainan province yesterday. More than 4,100 brands from 71 countries and regions are taking part in this year’s expo, which runs from April 13 to April 18 at the Hainan International Convention and Exhibition Center. This includes 65 Fortune Global 500 companies and industry leaders.
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1 month ago | 
yicaiglobal.com | Liao Shumin
(Yicai) April 10 -- Shares of Focus Media Information Technology leaped after China's largest outdoor advertising firm revealed plans to acquire elevator ad peer Xinchao Media Group for CNY8.3 billion (USD1.1 billion), marking a strategic expansion into residential advertising. Focus Media [SHE: 002027] closed 10 percent higher at CNY7.18 (USD1) in Shenzhen today, bringing its year-to-date gain to over 4 percent.
