The Walt Disney Company on Nov 11 reported fourth quarter earnings of $55.632 billion, an increase of 6 percent from last year. The company also revealed that its net profits for 2016 is $9.391 billion, a year-on-year increase of 12 percent. Christine McCarthy, chief financial officer of Disney, said that the excellent performance of Shanghai Disney Resort, which welcomed 4 million visitors in the last four months, has partially offset the lower earnings from Disneyland Paris. The company said that Shanghai Disney Resort’s fiscal results in the last quarter have exceeded expectations and it hopes that it can achieve balanced results for fiscal year 2017.
The 13th Shanghai International Intellectual Property Forum, co-organized by the city government and the World Intellectual Property Organization, was inaugurated in Shanghai on Nov 17. Officials and experts from world organizations and more than 50 countries and districts took part in discussions related to the theme “respecting intellectual property, encouraging innovation and creativity”. Yang Xiong, mayor of Shanghai, stressed that intellectual property is an important engine in advancing innovation and that Shanghai is aiming to become an intellectual property powerhouse by deepening reforms in key areas to establish an IP ecosystem consistent with innovation-driven development.
Didi Chuxing announced a strategic cooperation with Avis Budget Group, the world’s bestknown car rental company. Didi said that it would work with Avis to offer car rental services for Chinese Didi App users in nearly 175 countries and districts. It is understood that Didi would be providing platform services while Avis Budget would provide the rental cars and manage claim settlement services. Didi also revealed that this offshore car rental service will be available before the end of fiscal year 2016. Didi and Avis have also agreed to share their products, technologies and local business resources to make cross-border car rental services easier and more accessible to Chinese users.
The Shanghai Municipal Education Commission released a report detailing the employment situation of vocational school graduates in Shanghai. It revealed that the employment rate of graduates of 79 full-time vocational schools in 2016 has reached 98.26 percent, a 0.13 percent increase from last year. The average starting salary for these graduates has also increased from 2,786 yuan ($403) in 2015 to 3,061 yuan this year, with 36 percent of graduates earning salaries above 3,001 yuan. There are currently 15,727 graduates who are enrolled in higher education institutes, with the admission rate at 47.02 percent.