Wanda investment

WANDA Group announced new investments worth 110 billion yuan (US$15.99 billion) Tuesday in the southwestern province of Sichuan.

Included in the projects are 20 shopping malls, are additional to an earlier investment of 160 billion yuan.

5G industry fund

CHINA’S largest telecommunications operator China Mobile said Tuesday it will set up a 30-billion-yuan 5G industry fund and has already raised the first installment of 7 to 10 billion yuan.

China Mobile chairman Yang Jie made the announcement at a press conference in Shanghai. He did not specify a timeline for the fund. Yang also said China Mobile will invest 3 billion yuan into developing 5G content such as ultra-high definition videos and games. In 2019, China Mobile plans to build more than 50,000 5G base stations in China and provide 5G services in more than 50 cities, he said.

Overseas traders

ZHENGZHOU Commodity Exchange said it will promote the introduction of qualified overseas traders in the trading of cotton futures.

The exchange listed the goal in a recently-issued white paper on cotton futures. As the world’s largest producer, consumer and exporter of textile, China listed cotton futures on the exchange in June 2004 to help cotton-related enterprises hedge the price risk.

Qudian offering

QUDIAN Inc., an online small consumer credit provider, said Tuesday a proposed offering of US$250 million in convertible senior notes.

The company intends to grant the initial purchasers in the notes offering a 30-day option to purchase up to an additional US$37.5 million aggregate principal amount of the notes. The notes will mature July 1, 2026, unless repurchased, redeemed or converted in accordance with their terms prior to such date, said the filing.