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China Business News Wednesday (2021-02-17)


1. plans to take its shipping business public in Hong Kong

The JD Logistics IPO could raise at least $5 billion and value the unit at about $40 billion. JD has now filed its IPO prospectus with the stock exchange. JD Logistics is not yet profitable because of heavy investment, yet its loss narrowed in the nine months to 11.7 million yuan ($1.8 million). Revenue grew 43.2% to 49.5 billion yuan, records show. shares rose more than 5% in Hong Kong on Wednesday.


2. Tencent invests in the 52 million round of digital rights startup Pex

Pex, a startup that aims to give rights holders more control over how their online content is

used and reused, has closed a new $57 million funding round. The round comes from existing investors, including Tencent and Tencent Music Entertainment. Pex is in the process of launching "a Google-like search engine for rights holders to find copyright infringement".


3. China became the largest trading partner for the EU

China became the largest trading partner for the EU in 2020, surpassing UAS for the first time. According to Eurostat statistics, EU exports to China in 2020 had reached 2025 billion euros, up 2.2%; EU imports from China had reached 383.5 billion euros, up 5.6%; total trade volume between China and Europe will reach 586 billion euros (about 4.5880 trillion RNB).


4. The connection between NIO and oil giant China Petroleum & Chemica

Speculations are emerging about a connection between NIO and oil giant China Petroleum &

Chemical (Sinopec) after an oil company executive visited a NIO battery swap station. Sinopec Chairman Zhang Yuzhuo visited one of the EV maker's battery swap stations during Chinese New Year. These connections could become very interesting, as NIO could benefit from the oil company's financial power, and Sinopec could enter new business fields.


5. National delivery volume over the Chinese New Year more than doubled.

In numbers, there were a total of 365 million express parcels picked up and delivered, which

represents an increase of 224% year-on-year. From February 11 (New Year's Eve) to February 15, the national postal express industry ran smoothly and orderly. This is another sign of the COVID accelerated growth of eCommerce.


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