Philips, Alibaba sign deal for ser­vices in China

China Daily (Canada) - - BUSINESS -

Philips (China) In­vest­ment Co Ltd and Alibaba GroupHold­ing Ltd signed an agree­ment that will see Alibaba pro­vide Philips with a cloud com­put­ing ser­vice while it pro­vides smart prod­ucts to cus­tomers in China. The two com­pa­nies also in­tend to co­op­er­ate on big data ex­changes and anal­y­sis, so they can be bet­ter in­formed of use­ful data; in­clud­ing prod­uct needs, pur­chas­ing be­hav­iors, user feed­back, and de­vel­op­ment trends. of Chi­nese ware­house firm Shang­hai e-ShangWare­hous­ing Ser­vices Co Ltd and set up a joint ven­ture to ex­pand in China, the com­pa­nies said on Thurs­day. E-shang, backed by pri­vate eq­uity fir­mWar­burg Pincus, and APG aim to tap strong de­mand for ware­houses as Chi­nese e-com­merce booms. The joint ven­ture plans to de­velop and run mod­ern lo­gis­tics real es­tate as­sets across China. Re­sources Aus­tralia, a sub­sidiary of the Chi­nese par­ent’s over­seas de­vel­op­ment arm, and Aus­tralian rail freight op­er­a­tor Aur­i­zonHold­ings Ltd have made a con­di­tional of­fer of A$3.40 per share in cash for the iron ore and coal firm.

per­cent in the last five trad­ing days.

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