Quotable

It's very impressive that about 80 percent of Alibaba's e-commerce transactions are made on mobile devices. If you look at the US, probably only 50 percent of e-commerce transactions are made on mobile. China is pretty advanced in the era of mobile internet."

Bertrand Schmitt, co-founder and chief executive of App Annie, an analytics startup based in San Francisco. The company says gross app store revenue in China totaled $8.7 billion last year and will reach $30.9 billion in 2020.

"The company already has a mature business in every part of the industry chain, but Wanda also has a lot of big competitors in China, such as China Film Group Corp."

Liu Cuiping, research director at EntGroup, said Wanda Cinema's plan to buy 100 percent of Wanda Media, the owner of movie blockbuster maker Legendary Entertainment, is further evidence that Wanda is looking to become a major player in the entertainment industry comparable to those in Hollywood.

"China has yet to create a high-end consumer brand. We want to take that goal onto our shoulders."

Xu Zhijun, one of the three rotating CEOs at Huawei Technologies Ltd, which has said it wants people in the US to see the company as a stylish smartphone brand in order to boost its share (currently virtually zero) in the world's second-largest market for handsets.

(China Daily European Weekly 06/10/2016 page24)