Sam’s Club China has replaced its chairman following a regulatory interview with China’s top market regulator over food safety concerns, according to corporate filings. Walmart (China) Investment, the entity overseeing the warehouse club, or Sam’s Club, business in China, updated its registration on June 15, showing that Muk Sook Yee had stepped down as legal…
China’s Alipay unveiled an artificial intelligence-powered version of its app on Tuesday, launching a new assistant called “A Bao” as owner Ant Group seeks to transform one of the world’s largest digital platforms into an AI-first super app. The company said the new version has entered invitation-only testing and will be gradually rolled out to…
TIANJIN — Danish pharmaceutical giant Novo Nordisk announced Monday that it will inject an additional 200 million yuan (around $29.4 million) into its production base in North China’s Tianjin municipality, expanding drug production and ramping up assembly and manufacturing capacity of its related injection pens. Once completed, the expansion project will further lift the production…
A Sino-Pakistani joint venture tire manufacturer has debuted on the Pakistan Stock Exchange (PSX) in a move market participants described as the first listing by a Chinese-invested company on the country’s bourse and a milestone in the deepening integration of industrial and financial cooperation between the two nations. Service Long March Tyres Ltd — a…
Japanese companies will remain committed to the Chinese market over the long term as they expect the country’s market scale, growth prospects and business opportunities to outweigh fluctuations in bilateral ties, said executives and market watchers. They said Japanese investment in China is an integral part of global industrial specialization, with economic spillovers from these…
Walmart China, parent company of Sam’s Club China, said it will tighten controls after the country’s top regulator summoned Walmart unit over food safety issues. The retailer said it “fully acknowledges, deeply reflects upon, and sincerely accepts” the concerns raised by regulators, while apologizing to members for any inconvenience. The company added that it has…
An employee from Chaoyang Long March Tyre Co Ltd (second left) addresses staff queries at the manufacturing plant of Service Long March Tyres in Pakistan. [Photo provided to chinadaily.com.cn] A joint Sino-Pakistani tire manufacturer debuted on the Pakistan Stock Exchange, a move that market participants described as the first listing by a Chinese-invested company on the…
Consumers browse products at a Sam’s Club store in Changsha, Hunan province, on Sept 7. CHINA DAILY China’s top market regulator has summoned executives of Walmart’s Chinese operations over repeated food safety violations at Sam’s Club stores and its online operations. The State Administration for Market Regulation said on Monday that it had recently conducted…
BEIJING — China’s top securities regulator said on Friday that it has approved the initial public offering (IPO) registration of CXMT Corporation, the country’s largest manufacturer of dynamic random-access memory (DRAM). The company has been approved to be listed on the Shanghai Stock Exchange’s sci-tech innovation board, also known as the STAR market, the China…
Builders from China Railway No 4 Engineering Group complete building a 443.1-meter railway bridge, traversing Yingshan-Dazhou Expressway and located in Dazhou in Sichuan province, helping facilitate the development of China’s western regions. SHI JIAMIN/FOR CHINA DAILY Amid the country’s latest push to increase the operating mileage of railways, constructors from China Railway No 4 Engineering…