IN BRIEF (Page 18)

SZ hub innovates to survive

Wang Laobao is a survivor who thrived. Once a vendor selling electronic products in Shenzhen's Huaqiang North, he became chairman of e-commerce platform okhqb.com.

Electronics market in Shenzhen struggles to cope with e-onslaught

The Huaqiang North Electronic Market in Shenzhen used to be bustling but now counters are gathering dust and stores are shuttered with rolling doors.

China's VC, PE funds key to new tech

Chinese venture capital and private equity firms have assets totaling more than 7 trillion yuan ($1.02 trillion) under management this year, and the amount will exceed 10 trillion yuan in 2020, according to the chief of Zero2IPO Group.

Face-recognition startup 'raises $100m'

Megvii Inc, a Chinese developer of facial-recognition technology, has raised at least $100 million from investors, including Foxconn Technology Group and CCB International Holdings Ltd, according to people with direct knowledge of the matter.

Tsinghua Unigroup plans $7b cross-Straits fund

Beijing-based chip giant Tsinghua Unigroup Ltd said on Tuesday it is planning to launch a 50 billion yuan ($7 billion) fund to promote cross-Straits economic ties, after its investment proposal to invest in firms in Taiwan province ran into trouble.

Insurers to go big on investments in overseas markets

China's insurers are keen to step up overseas investments in the next five years, a survey has found.

Goodbaby acquires famous foreign brands, then makes them profitable

Time-honored household brand names from Europe and North America have become profitable after being acquired by Goodbaby Group, China's largest manufacturer and retailer of baby-care products.

Yankuang to continue to shut coal mines despite short-term price hike

Yankuang Group, Shandong province's largest State-owned coal company, will continue to shut down outdated capacity and develop clean coal technologies to cope with a fluctuating market, according to its top executive.

CTG, SDIC seen bidding for Canada's Northland

China Three Gorges Corp and SDIC Power Holdings Co are among companies bidding for Canadian renewable energy producer Northland Power Inc, according to people familiar with the matter.

HSBC eyes growth prospects in Guangdong

HSBC Holdings Plc plans to step up hiring in China for its retail and wealth business next year, as the UK lender persists with its expansion there.

First direct flight links Las Vegas, Chinese mainland

A new direct flight between Las Vegas and Beijing was launched on Friday, linking the "entertainment capital of the world" with the Chinese mainland for the first time.