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Media Report
May 05 , 2016
  • The Associated Press reports: "The head of entertainment giant Disney had a rare official meeting with Chinese President Xi Jinping on Thursday, a month before the opening of its $5.5 billion theme park in the country's financial hub of Shanghai. Xi told Disney CEO and Chairman Robert A. Iger that it was important for the world's 'strongest' country, referring to the U.S., and the world's largest developing country to deepen their cooperation and expand it into new areas....Cooperation between 'U.S. firms with Chinese firms, and in particular the Walt Disney Company with Chinese firms, are exactly cases in point of such new cooperation,' Xi said. 'And I believe the new cooperation will continue to yield new outcomes.'"
  • TIME reports: "China has aired the first official footage of ongoing construction on a disputed reef it claims in the restive South China Sea. Footage of buildings, roads and lighthouses under construction at Fiery Cross Reef — known by the Chinese as Yongshu — were seen in a report by China Central Television (CCTV) on Tuesday, according to the state-runGlobal Times newspaper. The report was about a navy song and dance troupe from China's People's Liberation Army (PLA) that performed on the reef."
  • The New York Times reports: "The Alibaba Group, which owns China's biggest online marketplaces, is squeezing more money out of slowing growth. The Chinese e-commerce giant, which lists shares on the New York Stock Exchange, reported on Thursday a surge in profit and revenue in the first three months of the year compared with the same period a year earlier....In a blogpost released with the earnings report, Alibaba's executive vice president, Joseph C. Tsai, said the company was able to buck the trend of broader global economic troubles because of the resilience of Chinese consumers, which economists say must make up for China's weakening manufacturing and construction sectors."
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