Chinese internet major LeEco said on Tuesday that its TV business will open content and platform resources to more third-party partners, with an expectation that its revenue from non-hardware will reach over 20 billion yuan ($2.9 billion) in the next three years.
China's emerging industries - information, manufacturing, biology, environment management and digital technology - will each attain an output scale of around 10 trillion yuan ($1.4 trillion) by 2020, according to the Plan on Strategic New Industries During the 13th Five-Year-Plan (2016-20) released by the State Council on Tuesday.
A unit of HNA Group Co outbid Hong Kong developers, including Cheung Kong Property Holdings Ltd, with an HK$5.4 billion ($697 million) offer for government land in the former Kai Tak airport area, adding to a $1.1 billion winning bid last month for another site nearby.
The Bank of China Ltd has pledged to accelerate the development of its key investment and loan linkage mechanism - by working with the administrative committees of five national innovation zones to build up its client base and risk compensation and information-sharing systems.
JPMorgan Chase & Co is set to sell its one-third stake in a Chinese securities joint venture for about 307 million yuan ($44 million), according to a Shenzhen Stock Exchange filing.
Industrial and Commercial Bank of China (ICBC), the country's biggest lender, said on Monday it has agreed to conduct a 5 billion yuan ($720 million) debt-for-equity swap with cement producer Jindong Development Group.
Information technology-based solutions can help Chinese companies boost product quality, efficiency, innovation and counter challenges such as rising labor costs - to pursue their goals opened up by the Made in China 2025 strategy, a leading international industry executive said.
China Vanke Co's shares declined sharply on Monday after it announced that it will terminate an asset-restructuring plan with Shenzhen Metro Group, marking an alleviation of the tension in its year-and-a-half-long battle for control, experts said.
Trading in shares of China Huishan Dairy Holdings Co was triple the three-month average on Monday, when it resumed trading after being suspended on Friday. Prominent short seller Carson Block targeted the Hong Kong-listed dairy farm operator and said he would seek out more companies in the city.
Chinese mainland stocks in Hong Kong fell to a one-month low, led by construction firms and insurers, amid concern government efforts to contain property bubbles and curb capital outflows will hurt earnings growth.
Tencent Pictures, the film unit of China's biggest internet company, is looking for acquisitions that can accelerate plans to make its own blockbusters instead of just writing checks for them.
Vanke, the country's largest property developer in terms of market value, has branched out into senior citizen care services.
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Raymond Zhou
Op Rana
Berlin Fang
Zhu Yuan
Huang Xiangyang
Chen Weihua
