BUSINESS CHINA DAILY HONG KONG EDITION Friday, January 25, 2019 Chinese to unveil company foldable buys 60% stake in Move represents latest push in fueling pany shipped more than 200 mil­ lion units of consumers’ interest to upgrade devices worldwide last year and surpassed Apple Inc as the world’s second Peru port By MA SI architecture, which can greatly largest smartphone vendor. Yu Chengdong, CEO of Huawei’s consumer business group, intro­ [email protected] widen its use scenarios. On Thursday, Huawei, the By ZHONG NAN duces the firm’s 5G modem Balong 5000 at a news conference in Analysts said the modem is world’s largest telecom equipment [email protected] Beijing on Thursday. PROVIDED TO CHINA DAILY Huawei Technologies Co Ltd will designed to compete with the US maker, also unveiled its first chip­ unveil its first commercial 5G fold­ chip giant Qualcomm Inc’s X50 set for 5G base stations. The chip, COSCO Shipping Ports Ltd has able smartphone in February, as modem in performance. Huawei named as Tiangang, can support a of the Mobile China Alliance, an can be bent and rolled to function reached an investment agreement the Chinese technology giant seeks underlined that it will not sell Balong bandwidth of 200 megabytes and industry association, said despite both as a smartphone and a tablet. with Volcan Compañía Minera SAA, to overtake 5000 as a standalone product, but reduce the weight of a 5G base sta­ the difficulties Huawei is facing in “This year will see the first batch a Peruvian polymetallic miner, to Co Ltd to be the world’s largest just use it in its own smartphones. tion by half. overseas markets, including cyber of 5G smartphones and foldable acquire 60 percent of its stake in smartphone vendor. The 5G foldable smartphone, to Ding Yun, president of Huawei’s security allegations, the company is handsets respectively. Those which Terminales Portuarios Chancay SA Yu Chengdong, CEO of Huawei’s be unveiled at the Mobile World telecom carrier business group, steadily gaining clients, with more can bring the two together will turn for $225 million. consumer business group, said the Congress 2019 in Barcelona, Spain, said the company has shipped over 5G base stations shipped. out to be highly competitive in the With an initial payment of $56 foldable handset will be equipped is Huawei’s latest push to fuel con­ 25,000 5G base stations globally, up “The trust between Huawei and market,” said Fu Liang, an inde­ million, this deal was sealed in with its 5G modem Balong 5000, sumers’ interest to upgrade their from the figure of 10,000 it dis­ some telecom carriers can help the pendent telecom analyst. Davos, Switzerland, on Wednesday, which the company described as devices after the global smartphone closed in late December. former better navigate the choppy China Mobile, the country’s larg­ the Chinese company said in a state­ the most powerful 5G modem in market hits a saturation point. “We have so far acquired 30 5G waters. It also reflects Huawei’s tech­ est telecom carrier, said in Decem­ ment on Thursday. the world. The move also came after Hua­ contracts, with 18 from Europe, nological superiority,” Wang said. ber that the first batch of 5G After the acquisition, Chancay Yu said Balong 5000 is the wei’s consumer business posted a nine from the Middle East and The company’s 5G foldable smartphones will be priced at above terminal will become the first termi­ world’s first 5G modem that fully record $52 billion in sales in 2018, three from the Asia­Pacific region,” smartphone plan came after its rival 8,000 yuan ($1,166), and more than nal project controlled by China supports both non­standalone driven by the strong demand for its Ding said. Corp unveiled an engineer­ 30 commercial 5G devices are likely COSCO Shipping Corp — the parent and standalone 5G network premium smartphones. The com­ Wang Yanhui, secretary­general ing gadget on Wednesday, which to hit the market in 2019. company of Hong Kong­headquar­ tered COSCO Shipping Ports — in South America, as well as the group’s second greenfield port project invested overseas. Nation speeding up Volcan is a Peruvian polymetallic miner engaged in the exploration and production of zinc, copper, gold, silver, and lead in Peru’s Sierra Cen­ bid to roll out new tral region. In addition to mining business, the company also operates ports, logistics companies and hydro­ innovation board electric power plants in the country. Located at Chancay Harbor in central Peru and about 58 kilome­ By ZHOU LANXU and CHEN JIA pared to embrace the registration ters from the country’s capital Lima, system,” Dong said. Chancay terminal boasts an excep­ China is speeding up its bid to “To prudently introduce the new tional geographic location and is roll out the science and technology system, China started the reform connected with the economic center innovation board, backed by early with the science and technology of Peru by convenient traffic. progress in related reforms and a innovation board. One year later, steadily recovering stock market, more sub­markets may begin to analysts said. adopt the system, helping to solve As a significant step in capital the bane of the Chinese stock mar­ $225 market reform, the new stock trad­ ket — excessive administrative million ing platform is likely to launch in controls,” he said. amount spent by COSCO Shipping the first half of 2019, boosting On the other hand, recovery of Ports to acquire a 60 percent innovation and improving market the A­share market also underpins stake in the Peruvian port efficiency, they said. the rapid pace of rolling out the A meeting of the Party’s central new board, Li said, because when It is a natural deep­water harbor committee for deepening overall investors are in a bearish mood, A user scans the Chinese character fu using the Alipay app to receive hongbao ahead of the Spring with a maximum of 16­meter water reform held on Wednesday their worries about any shift of Festival. CHEN JUN / FOR CHINA DAILY depth and is capable of meeting the reviewed and passed the plan to funds from existing boards to the needs of mega vessels. launch the new board and experi­ new one can cause a plunge of the The construction of Chancay ter­ ment with the registration system, market. minal includes multipurpose termi­ measures announced only about “After last year’s slump, the Online payment firms launch nals, container terminals and 80 days earlier. A­share market has basically stabi­ related infrastructure facilities. Under the registration system, lized, and policies buoying the Phase one of the terminal will have eligible enterprises can go public market have been continuously hongbao battle to entice users four berths, of which two are multi­ by filing required documents. Cur­ introduced. Meanwhile, the miti­ purpose berths, and two are con­ rently, the A­share market adopts gating of trade disputes and rela­ tainer berths with a total annual the approval system, where regu­ tively stable overseas markets also By HE WEI in Shanghai Alipay, search engine Baidu Inc designed capacity of one million lators decide whether a company make the first half of 2019 an [email protected] entered the fray this year by allo­ TEU, or twenty­foot equivalent units can be listed or not. appropriate time to launch the cating up to 1 billion yuan of digital — an industry measure of cargo “China is making rapid new board,” Li said. It is again the time of year when Chinese people have cash to be disbursed in the lead­up capacity. progress in pushing forward the On Thursday, three major Chinese people give hongbao, or a tradition to send to the Year of the Pig. Xu Lirong, chairman of China new board, which features the indexes of the A­share market red envelopes containing auspi­ The free money is deposited COSCO Shipping, said the business registration system, thanks to the went up, with companies produc­ cious money, to wish prosperity greetings and hongbao directly in the recipients’ accounts move in Peru, which covers the sufficient preparation gradually ing chips and computer equip­ and good fortune. to each other during with the app operator. The recipi­ entire logistics industry chain, will done before,” said Li Ye, an analyst ment leading the gains. The For technology companies, how­ ent can use the digital cash for not only embody the company’s with Shenzhen­based Great Wall benchmark Shanghai Composite ever, this has been an annual bat­ the Lunar New Year, future purchases via the app or coordinated development, but also Securities. Index was up 0.41 percent to close tlefield to entice users to stay glued making it the best resend it as a gift to friends and rel­ inject vitality into target countries The country initiated the at 2591.69 points, registering a to their respective services atives who are using the same app, and regions. reform of replacing the approval 3.92 percent gain from the begin­ through financial incentives and time for companies thus maximizing the level of par­ After the acquisition, COSCO system with the registration sys­ ning of this year. promotional offers. to build up brand ticipation for existing users and Shipping Ports and Volcan can fully tem in 2013, with the following Detailed rules of the new board Alipay, the country’s largest awareness ...” drawing in new customers. utilize their resources and capabili­ five years witnessing a full discus­ will probably be released in third­party payment tool by mar­ Under a promotional campaign ties to jointly build Chancay termi­ sion of how to promote the March, according to a report from ket share, announced on Monday Neil Wang, president of that ends on Feb 4, participants nal into a major gateway port in reform, Li said. the Shanghai­based Guotai Junan it is offering subsidies totaling 500 consultancy Frost & Sullivan who download and use China Peru. It will facilitate trade between Dong Dengxin, director of the Securities released on Thursday. million yuan ($73.6 million) to in China UnionPay’s QuickPass app to scan Peru and China, and between China Finance and Securities Institute at Launch of the new board could users who participate in a cam­ objects bearing the company logo and Latin America while creating the Wuhan University of Science motivate enterprises to invest paign that can effectively enhance It has also seen the participation of are eligible for cash prizes of up to jobs, services and infrastructure and Technology, agreed. more in research and develop­ user loyalty to the Alipay app. 70 million elderly people and users 2,019 yuan. investment opportunities, said Li “Over the past five years, the ment and facilitate finance of tech From Jan 25 to Feb 4, an aug­ from 2,000 overseas cities for three The promotion, known as the Guanghui, vice­president of the Chi­ A­share market has continuously companies, helping China achieve mented reality­powered game years in a row. “red packet feast”, will also include nese Academy of International carried out reforms to implement innovation­driven growth, the allows people to collect virtual red This year it is also inviting local other cash gifts if people sign onto Trade and Economic Cooperation. the registration system, such as report said. envelopes by scanning the Chinese residents in Hong Kong to join the the app on a daily basis, recom­ Zhang Wei, vice­chairman of COS­ refining rules of information dis­ character fu, which symbolizes for­ game through AlipayHK, the mend new users and transfer CO Shipping Ports, said the invest­ closure and delisting. Now, it is Contact the writers at zhoulanxv@ tune and luck in Chinese and is namesake payment wallet dedicat­ funds via the tool. ment in Chancay terminal will proper to say the market is pre­ chinadaily.com.cn commonplace ahead of the Chi­ ed to the local market. Tencent, which initially came up enable the company to further nese New Year, which falls on Feb 5 “Chinese people have a tradition with the idea of digital hongbao in extend its reach to South America. this year. to send greetings and hongbao to 2014 and categorically boosted the The terminal will also help cut Peru’s The activity aims to leverage the each other during the Lunar New prevalence of WeChat Pay, is not deficiency in port infrastructure. popular tradition to promote Ali­ Year, making it the best time for offering big subsidies this year. It “The two companies will make baba’s service. It companies to build up brand has only rolled out a functionality full use of their advantages to build also ties into a series of events that awareness and increase the num­ that allows enterprises and organi­ Chancay terminal into a key hub in promotes Alipay’s array of servi­ ber of users on their apps, especial­ zations to tailor their red packet South America, the most important ces, from ecological protection ly in rural areas,” said Neil Wang, cover. logistics center on the Pacific coast, scheme Ant Forest to Huabei, a president of consultancy Frost & China’s 43.8 trillion­yuan third­ and a major platform that serves consumer credit service. Sullivan in China. party payment market is dominat­ bilateral trade,” he said. For instance, those who have In recent years, China’s major ed by Alipay’s 53.7 percent and COSCO Shipping Ports’ terminal gathered five fu representing dif­ internet companies have signed WeChat Pay’s 38.8 percent, accord­ portfolio covers the five main port ferent blessings stand to equally up as sponsors for the annual Chi­ ing to market consultancy Analys­ regions on the Chinese mainland, split the cash prize, plus extra na Central Television Spring Festi­ ys in December. Southeast Asia, the Middle East, offerings including paid trips to val gala to conduct red packet “While highly unlikely to shake Europe and the Mediterranean. By Europe for football matches and a promotions, which have allowed the duopoly, smaller players could the third quarter of 2018, it operated full­year reimbursement of all them to keep customers engaged still eat away limited shares and managed 282 berths at 36 ports loans incurred on Huabei. with their apps as long as possible because vivid application scenari­ worldwide, of which 192 were for The company said up to 100 mil­ even during the country’s most os are key to the adoption of pay­ containers, with a total annual han­ Customers check stock prices at a brokerage in Nanjing, capital lion people have been engaged in important holiday. ment solutions,” said Wang dling capacity of approximately 104 of Jiangsu province. QU XING / FOR CHINA DAILY the activity since its debut in 2016. Following WeChat, Taobao and Pengbo, an analyst from Analysys. million TEU.