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Chinese video site Bilibili, which mainly targets China's Generation Z, said on Thursday it has received a 0-million equity investment from a subsidiary of Sony Corp, as the pair look to deepen collaboration in the realm of entertainment.

City aims to be model for better services and management via tech innovation

Citi and Deutsche Bank are the joint bookrunners on the deal. No pricing terms were disclosed.

Chinese travelers are expacted to spend an average 10 percent more on international travel over the next 12 months, with the millennials looking to increase their spend the most, with around two-thirds of the post-'80s and post-'90s consumers saying they expect to spend more.

Chinese tech company Cheetah Mobile, for instance, has deployed more than 7,000 robots in nearly 1,000 shopping malls and markets across 32 cities in China, as it aims to use robotics' big data to improve the efficiency of offline economies.