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Chinese companies Alibaba Group Holding Ltd and Tencent Holdings Ltd are also working hard to build more overseas availability zones to compete with global giants including Amazon.com Inc and Microsoft Corp.
Chinese regulators have pledged that they will allow foreign insurers to own a 51 percent stake in their life insurance JVs in China in three years and remove ownership restrictions in five years. The country already scrapped shareholding limits on property and casualty insurance JVs for foreign players.
Chinese internet tech giant Baidu Inc signed a series of cooperation agreements on Friday with Guangzhou, the capital of Guangdong province, to jointly develop an intelligent transport network in the city.
Chinese company executives predict an improving environment for merger and acquisition in the next 12 months, according to the 19th Global Capital Confidence Barometer released by the professional services provider EY on Monday.
Chinese companies are also teaming up to develop smart cars. A total of 12 Chinese carmakers and tech companies have built a 600 million yuan joint venture that specializes in research and development of such cars.
来源：资阳报