One-line news
April 24, 2017 Category 
One-line news, Weekly
- Lenovo Group said it plans to pour USD1.2 billion into the research and development (R&D) of artificial intelligence (AI), the internet of things (IoT) and big data over the next four years. Chairman Yang Yuanqing said his company aims to find a new growth engine through heavy R&D investment and partnerships with global companies such as Google and Amazon. The company is expected to unveil a new handset that comes with Amazon’s voice recognition technology Alexa. Lenovo controls 20% of the global personal computer market
- The General Office of the State Council and the General Office of the Communist Party of China (CPC) Central Committee have amended regulations on officials’ personal information declarations, requiring that they disclose their families’ overseas assets. More than 9,100 officials have been bypassed for promotion after they were found to have concealed personal information, while 124,800 were punished for making false declarations.
- China Mobile, the world’s largest wireless network operator, will likely face slowing growth this year after it posted lower-than-expected earnings in the three months ended March 31. China Mobile reported a 3.7% increase in first-quarter net profit to CNY24.8 billion. China Mobile’s total first-quarter revenue climbed 3.7% to CNY184 billion. China Mobile signed up 33 million new 4G subscribers in the first quarter.
- Apple may face legal action for allegedly monopolizing iPhone apps in China, the No 1 market for its App Store, after the Beijing Dare & Sure Law Firm called for Chinese app developers to join in a proposed class-action lawsuit. Apple’s iOS operating system does not allow iPhone users to download apps anywhere other than its App Store.
- Consumer goods sales rose 10.9% year-on-year in March, 1.4 percentage points faster than in the first two months. Consumption contributed to 77.2% of GDP in March, up 2.2 percentage points over the same period last year.
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