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China BizTech News Weekly Digest – May 27, 2014


Editing by Su-Jun Lim

China’s second-largest e-commerce company JD.com Nears a U.S. Stock

BY THE WALL STREET JOURNAL

Mere days after Alibaba group’s US IPO, its rival and second largest e-commerce company, JD.com Inc., plans to raise up to $1.7 billion and collect $1.2 billion in a private share placement with Tencent Holdings Ltd., en route for US public offering as well.

Spending on mobile adverts soars in China

BY SOUTH CHINA MORNING POST

China’s mobile advertising is expected to reach 12.5 billion yuan this year, reaching 25.7 billion yuan in 2017, increasing at a compound annual growth rate of 27 percent, in part due to its receptive consumers, according to PwC’s 2014 Mobile Advertising Report in China.

China’s consumption boom is just getting started

BY BUSINESS SPECTATOR

Consumption boom is expected due to China’s education and healthcare reform, rising income, and rapid development of e-commerce. Despite the $3.6 trillion spending last year, Chinese consumers have only spent a mere 36% of China’s total GDP (world average is 60%), leaving much room for growth as the country continues to transform into a more consumption-based economy.

Jumeirah plots China expansion with eye on Chinese tourism boom

BY JING DAILY

The $2 billion Asia expansion plan of United Arab Emirates luxury hotel chain Jumeirah includes 19 new hotels in Asia. 5 of 19 will be in China to ramp up Jumeirah’s presence in China, following its growing efforts to attract Chinese tourists in the UAE.

Cash cows: Australian milk sells for NINE dollars a litre in Chinese supermarkets as dairy farmers finally get a break

BY DAILY MAIL

Australia has struck a trade deal with China to speed the quarantine process up in order for Chinese supermarkets to sell fresh Australian milk. This is a much welcome deal for Australian farmers especially after taking a hit from the Coles-Woolworths milk wars, which resulted in milk price as low as $1 for a litre.

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