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Huawei starts to build a joint technology innovation center in Yongchuan District, Chongqing, with a planned investment of RMB 1 bln. The center will focus on AI, big data, and cloud computing.
China's leading diary company Yili Group buys New Zealand dairy provider Westland Milk Products reputable for being a high quality milk source and product processing company.
Shanghai Composite Index closes at 3090.98, down 0.18%, with turnover of RMB 353.2 bln. Shenzhen Component Index closes at 9839.74, down 0.04%, with turnover of RMB 422.4 bln. The ChiNext Index closes at 1708.87, up 0.11%, with turnover of RMB 116.8 bln.
Chinese telecom equipment and systems company ZTE has signed a cooperative agreement of 5G application with Institute of Nanjing Public Security Technology. 5G technologies will facilitate police work.
China's O/N Shibor rate down 9 bps to 2.6660%.
Haitong Securities gives Meituan-Dianping a "sell" rating with a HKD 34.33 price target, 38% lower than the yesterday's closing price.
Numerous Chinese tire companies have announced to increase price about 2% to 5% in coming March or April.