Huabei shares data with central bank CHINA’S Ant Group has begun to send its consumer credit data to a database run by the country’s central bank, a key move for both the company and regulators. Ant’s virtual credit card service Huabei said in a post on its official Twitter-like Weibo account Wednesday that it was being integrated into China’s central bank credit reporting system. Huabei said in its statement that after obtaining users’ prior authorization, it will report information such as the date their account was set up, credit lines and usage to the system. Users’ personal consumption details will not be shared, it added. India may block China investment in LIC INDIA wants to block Chinese investors from buying shares in Indian insurance giant Life Insurance Corp. (LIC) which is due to go public, four senior government officials and a banker said. State-owned LIC is considered a strategic asset, commanding more than 60 percent of India’s life insurance market with assets of more than US$500 billion. While India’s government is planning to allow foreign investors to participate in what is likely to be the country’s biggest-ever initial public offering worth a potential US$12.2 billion, it is leery of Chinese ownership, the sources said. Yum China, Lavazza plan more Lavazza cafes YUM China Holdings Inc. and Luigi Lavazza S.p.A. said Wednesday they plan to open 1,000 new Lavazza cafes in China by 2025. Through their existing joint venture, the companies will invest US$200 million to fund future growth, they said. The companies also said the joint venture is expected to be Lavazza’s exclusive distributor on the Chinese mainland. The joint venture’s first Lavazza flagship store, the first store outside of Italy, opened in Shanghai in 2020. Since then, 20 stores have opened in China, the companies said. Volocopter to sell 150 aircraft to China venture GERMAN flying taxi startup Volocopter said Wednesday it would sell 150 electric vertical take-off and landing (eVTOL) aircraft to its joint venture with a unit of Chinese automaker Zhejiang Geely Holding Group. Volocopter, which counts Daimler, BlackRock and Intel Capital as some of its investors, said it expects the partnership to bring eVTOL aircraft to China within the next three to five years. Volocopter did not disclose any financial details of the sale. | 