On Thursday, May 20, Microsoft announced its collaboration with Hanshow, a Chinese retail technology company.
The strategic partnership is based on cloud-based software for store operators around the world.
Hanshow Technology Co. Ltd. is a provider of electronic store shelf labels that can show price movements in real-time and omnichannel digital storage solutions.
Omnichannel retail is the combination of offline with internet-based sales programs. It includes grocery delivery, in which demand rose due to the COVID-19 pandemic.
It is a system that assists workers in shortening the time it will take to pack products for delivery.
In addition, it is also selling a cloud-based platform that authorizes a retailer to concurrently monitor the temperatures of fresh produce in stores worldwide.
The treaty marks Microsoft’s newest onset into a retail industry that is being compelled to advance a shift online.
An analyst said that this partnership is not only for the Chinese market but also for introducing China’s technology abroad.
As part of the collaboration, Hanshow will utilize Microsoft’s Office 365 software such as Word and Dynamics 365. This is a cloud-based shopper relationship management system.
The two firms will be able to share their global client network and will cooperatively launch a research and development team.
Actually, Microsoft entered the Chinese market in 1992, where it situated its biggest overseas research and development base.
Hanshow was founded in Beijing a decade ago and as of the moment, its main clients are the supermarkets in China and Europe. Recently, it just established its North American headquarters.
The company’s major business tactic is globalization as stated by its chief architect. He also claimed that its first leap when entering an overseas market is to grasp the local laws and culture.
China Stocks Dropped
China stocks dropped from its 11-week high on commodity pullback amidst an attempt in eradicating a pump-and-dump scheme.
It is a shot to increase the price of a stock by misleading positive statements to sell the inexpensively purchased stock at higher prices.
At the close of Wednesday trading, the Shanghai Composite Index shrank 0.5% to 3,510.96, after a rally this week that elevated the scale to its peak level in 11 weeks.
Meanwhile, the Shenzhen Composite Index tweaked 0.2%, while the technology-giant ChiNext also jumped 0.8%.
Elsewhere, U.S. President Joe Biden’s administration set back a Chinese investment ban for two weeks on trading in a blacklist of firms considered to have ties with the China defense military.
The ban was initially launched and later revised by former U.S. President Donald Trump’s executive order.
The original deadline was first halted from January 28 to May 27. The U.S. Treasury Department stated that American investors will be permitted to trade until June 11.