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Chinese banks need to reshape business models: McKinsey report

Facing challenges from tight regulations and disruptive technologies, Chinese banks need to reshape their business models for asset management and wealth management, McKinsey says.
Company

An hour is all it takes with new Sam's Club delivery service

Sam's Club, a membership-only warehouse retailer under Walmart, launched a one-hour delivery service in Shanghai today in partnership with JD Daojia.
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CNPC's natural gas supply rises 15% from a year ago by April

Demand has increased robustly since the first quarter due to falling prices of natural gas from the start of the year.
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Companies need to ensure treasury management business stays agile in digital era

They should partner with banks and other professional institutions to offer multi-dimensional value, a White Paper says.
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China's first airplane developed by private firm completes production

China's first aircraft independently developed by a private company, the Guanyi GA20, rolled off the production line in east China's Jiangxi Province, Monday.
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Carrefour opens Le Marche smart shop in Shanghai

The smart shop's opening extends the French retailer's tie-up with Tencent Group. Two Le Marche outlets will be opened in Shenzhen in the next several months. 
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Bosch's sales surge nearly 24% in China last year

The German company's sales totaled 113.4 billion yuan (US$17.8 billion) in 2017 amid rapid growth in China's new energy vehicle market and quicker industrial upgrading.
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German retailer hopes to broaden presence in China market

German retailer Metro said it hopes to strengthen its home brands to stay closer to market demand and enhance operation efficiency.
Company

German pharma giant opens Shanghai animal health research center

Boehringer Ingelheim said it has officially launched its US$22.7 million animal health R&D center to strengthen its position in veterinary disease areas. 
Company

JPMorgan Chase applies to set up 51%-owned securities firm in China

The US bank also appoints a new head for its China business as part of initiatives to further grow its onshore business. 
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