BEIJING, Sept. 20 (Xinhua) -- The following are highlights of China's local business news from the past week.

ANT GROUP'S IPO

Ant Group, the parent company of China's leading mobile-payment business Alipay, received approval on Friday from the Shanghai Stock Exchange for its initial public offering (IPO).

The financial technology powerhouse announced on July 20 that it would commence the process of concurrent IPOs on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, and the Stock Exchange of Hong Kong Limited.

AIRBUS

China is expected to remain the biggest single-country market of Airbus in 2020, as the European planemaker said it plans to deliver about 100 aircraft to China this year.

Affected by the COVID-19 pandemic, Airbus delivered only 14 aircraft to China in the first half of this year, according to George Xu, CEO of Airbus China. The company's original plan included delivery of some 160 planes to the country in 2020.

ALIBABA

Alibaba Cloud, the digital technologies and intelligence backbone of Alibaba Group, unveiled a series of innovative products at the 2020 Apsara Conference on Thursday, including its first cloud computer and a logistics robot for last-mile deliveries.

The cloud device is a palm-sized personal computer. Despite being just about 60 grams and as light as an egg, it offers high-performance computing, thanks to robust back-end cloud resources.

TERRAFUGIA

Flying-car company Hubei Geely Terrafugia on Tuesday announced its merger with Chinese drone developer AOSSCI to form Aerofugia Technology (Chengdu) Co., Ltd.

The new company, a subsidiary of China's Geely Technology Group, will offer integrated solutions in the general aviation sector, according to Aerofugia CEO Jing Chao.

BILIBILI

China's popular video sharing platform Bilibili said its first made-to-order satellite, which blasted off on Tuesday, would be used to offer views of space and the Earth to the public.

The satellite was launched atop a Long March-11 carrier rocket in the Yellow Sea. It was successfully sent into a sun-synchronous orbit.

BMW

The second phase of a high-voltage battery center invested into by BMW Brilliance Automotive, a joint venture between BMW Group and Brilliance China Automotive Holdings Ltd., started production Monday in northeast China's Liaoning Province.

The expanded center is the first location in the BMW Group production network to manufacture fifth-generation high-voltage batteries. Enditem

Related

Go to Forum >>0 Comment(s)