Blockchain
V1 Group Formal Entry Into Sanya To Seize New Opportunities of Hainan Free Trade Port Policy and To Capture New Development
One of China’s top 100 internet companies, V1 Group Limited (“V1 Group” or the “Company”, together with its subsidiaries, the “Group“; stock code: 00082.HK) today announced that Mr. Peng Xitao, Joint Chief Operations Officer of V1 Group Limited and Chief Executive Officer of Crazy Sports, has participated in the Hainan Free Trade Port (”Free Trade Port”) Key Projects Signing Ceremony in Haikou on 13 August 2020. Crazy Sports, a subsidiary of the Group, will kick-start a project integrating the information technology and sports industries in Sanya. The project is of great significance to the Group in the development of its internet sports-related business.
Hainan is China’s largest special economic zone, and the announcement of the Free Trade Port project indicated the development of the Free Trade Port has entered the full implementation phase. The Hainan Free Trade Zone has unique advantages in terms of policy support. The State Council of the PRC put forward in the “Overall Plan for the Construction of Hainan Free Trade Port”, a document issued on June 1, 2020, that with regard to the high-tech innovation industry, “focusing on platforms as vehicles to upgrade industrial efficiency, and to take IoT, artificial intelligence, blockchain, digital trade, etc. as key development sectors in the information technology industry”. Hainan Free Trade Zone also brought up the idea of “promoting the in-depth integration of tourism, sports and culture as well as medical industries” for the tourism industry.
The signing ceremony unveiled a total of 59 major projects, of which 12 are foreign funded and 47 are domestically funded, covering tourism, modern services, industries high-tech industries and livelihood and public services, with an estimated total investment size of RMB14.2 billion. Hainan Free Trade Port will continue to introduce a series of key development projects and unleash the potential of the city through the implementation of preferential policies and the investment opportunities brought by the free trade port.
Mr. Peng Xitao, Joint Chief Operations Officer of V1 Group Limited and Chief Executive Officer of Crazy Sports, said, “V1 Group is a well-known internet company with relevant technical capabilities in the internet, sports and media industries. As a leader of this Crazy Sports project in Sanya, I aspire to develop quality projects by leveraging the Group’s advantages in technology and resources.”
Dr. Zhang Lijun, Chairman of the Board of Directors of V1 Group Limited, said, “The Group proactively adheres to the direction of national development and formulates development plans in line with market trends. Hainan Free Trade Port brings new opportunities, by formal entry into Sanya, we will enjoy the advantages brought by the preferential policies. I believe that under the leadership of our professional operation and management teams, the Group’s businesses will be able to develop rapidly with the supportive policy. While bringing better development prospects to our shareholders and investors, we also hope to contribute to the construction of the Free Trade Port, and jointly seek new development opportunities.”
The Signing Ceremony of Hainan Free Trade Port Key Projects. The event was hosted by the People’s Government of Hainan Province, and undertaken by the Hainan Provincial Department of Commerce and the Haikou Municipal People’s Government. Attending government officials including Liu Cigui, the Secretary of the CPC Hainan Provincial Committee and the Chairman of the Standing Committee of the Hainan Provincial People’s Congress; Mao Chaofeng, Member of the Standing Committee of the CPC Hainan Provincial Committee and Vice Governor of Hainan Provincial Government; He Zhongyou, Member of the Standing Committee of the CPC Hainan Provincial Committee and the Secretary of the CPC Haikou Municipal Committee; and Tong Daochi, Member of the Standing Committee of the CPC Hainan Provincial Committee and the Secretary of the CPC Sanya Municipal Committee.
Blockchain
This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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Blockchain
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