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Around 23 percent of global smartphones had AMOLED display panels last year. The figure is expected to reach 64 percent in 2021, according to Sigmaintell.

Arecolor currently has two factories in China and so the Kenyan facility will be the first overseas plant.

Arcfox conducts technical validation at a lab Daimler built with BAIC, which is also its partner that locally produces Mercedes-Benz models. Chinese technology giant Huawei will provide connectivity and 5G-related solutions in Arcfox models.

As China reduces excessive capacity in the coal mining, steelmaking and power generation sectors, coal-rich Guizhou province in Southwest China is digging further into eco-friendly drivers of economic growth with the help of Agricultural Bank of China Ltd, which is making the same adjustments to its direction of lending.

Apple is betting big on this emerging market. Three weeks ago, its mobile payment service Apple Pay launched its largest-scale marketing campaign since entering China, offering perks including up to 50 percent discounts on purchases for a week.