BEIJING, Aug. 3 (Xinhua) -- The following are highlights of China's key local business news from the past week.

-- HUAWEI REVENUE UP 23 PCT IN H1

Huawei's revenue rose 23.2 percent year on year to 401.3 billion yuan (58 billion U.S. dollars) in the first half of 2019, with a net profit margin of 8.7 percent.

After being added to America's "Entity List," Huawei's overseas smartphone business was affected but has now returned to 80 percent of its pre-ban level, said Liang Hua, the company's chairman.

The company's smartphone shipments reached 118 million units in H1, representing a 24-percent growth year on year. Rapid growth was also observed in the shipments of tablets, PCs and wearables.

-- ALIBABA SIGNS STAKE PURCHASE OPTION WITH STO

Chinese e-commerce powerhouse Alibaba and delivery company STO Express signed an agreement on a stake purchase option.

According to a statement released by STO, Alibaba is granted the option to purchase stakes within three years from Dec. 28, with an estimated total purchase price of 9.98 billion yuan (1.44 billion U.S. dollars).

-- DIDI, BP TO BUILD JV FOR CHARGING STATIONS

Chinese mobile transportation platform Didi Chuxing has teamed up with British Petroleum (BP) to build a joint venture for developing and operating charging stations for new energy vehicles in China.

Currently, BP's first charging station built in the southern Chinese city of Guangzhou has connected to Didi's charging platform for trial operation. After the establishment of the joint venture, the construction and operation of the charging stations will be further accelerated, according to Didi.

-- CHINA GAMES INDUSTRY SEES STEADY GROWTH

Sales revenue of China's games industry increased to 114 billion yuan (16.4 billion U.S. dollars) in the first half of this year, up 8.6 percent year on year, according to an industry report.

From January to June, the number of game players in China exceeded 640 million, increasing by 5.9 percent compared with the previous year and representing a nearly 80-percent share of the country's online population.

-- XINJIANG POSTS NEW ENERGY POWER GENERATION GROWTH

New energy power generation in northwest China's Xinjiang Uygur Autonomous Region reported double digit growth in the first half of 2019 amid efforts to improve the energy mix and fight pollution.

Wind and solar power generation rose 18 percent and 12.5 percent to 20.73 billion kilowatt hours (kWh) and 6.18 billion kWh, respectively.

About 16.9 percent of installed wind power generating capacity and 10.7 percent of the solar power capacity in Xinjiang were left idle in the January-June period, 12 percentage points and 9 percentage points lower than a year ago. Enditem

Related

Go to Forum >>0 Comment(s)