Weekly snapshot of China’s local business news

Xinhua News Agency | Nov 10, 2019 at 10:04 AM

BEIJING, Nov. 10 (Xinhua) -- The following are highlights of China's local business news from the past week.

CANTON FAIR

China's largest trade fair in southern Guangdong Province saw an increase in exports to Belt and Road (B&R) countries and regions, as well as a growing number of buyers from these regions.

The 126th autumn session of biannually-held China Import and Export Fair, also known as the Canton Fair, concluded Monday with a turnover of 11.06 billion U.S. dollars from exports to B&R countries and regions, up 14.81 percent year on year, which accounted for 37.75 percent of the total transaction volume.

CIIE

The second China International Import Expo (CIIE) concluded Sunday, with 71.13 billion U.S. dollars worth of tentative deals reached for one-year purchases of goods and services.

More than 230 companies from all over the world have signed up for the third CIIE, with their combined pre-ordered exhibition area exceeding 84,000 square meters.

ALIPAY

Short-term overseas visitors can now use mobile payments on the Chinese mainland, China's leading mobile payment company Alipay backed by Alibaba announced on Tuesday.

The digital payment giant introduced an international version of its popular app, designed for overseas travelers to provide them with convenience when paying with their smartphones for shopping, eating and traveling in the Chinese mainland.

INTELLIGENT VEHICLE

East China's Zhejiang Province has rolled out a five-year plan to boost the intelligent vehicle industry, with a coordinated development pattern of intelligent vehicles, transportation, facilities and smart cities to be formed by 2022.

According to the plan issued by the provincial development and reform commission, the output value of Zhejiang's intelligent vehicles and related industries is expected to surpass 800 billion yuan (114.4 billion U.S. dollars) by 2022 and exceed 1 trillion yuan by 2025.

DIDI

Didi Chuxing, China's leading mobile ride-hailing platform, will relaunch its hitchhiking service in seven Chinese cities at the end of this month. The service was suspended last year following the murder of a female passenger by her Didi driver.

The relaunch trial will start in the cities of Harbin, Taiyuan, Shijiazhuang and Changzhou from Nov. 20 and cover Shenyang, Beijing and Nantong from Nov. 29. The trial will start with trips within 50 km in downtown areas between 5 a.m. and 11 p.m. for male users and between 5 a.m. and 8 p.m. for female users.

VACCINE MAKER CHANGSHENG

Changchun Changsheng Life Sciences Limited, a Chinese company involved in a defective vaccine case, was handed a bankruptcy ruling by a court in northeast China, according to an announcement released Friday by the Shenzhen Stock Exchange.

The Intermediate People's Court of Changchun, capital of Jilin Province, ruled that Changchun Changsheng is insolvent and unable to pay its debts when they are due. Meanwhile, there is no possibility of reorganization, the announcement said.