tencent has them in their fifth. pieces that fell off their portfolio or enabling technologies that allow them to that fill out- their portfolio or enabling technologies that allow them to move forward. cosco made an acquisition of an agricultural traitor in the quarter. they had done similar things in the first quarter. you had china many medals make an acquisition in copper and south america. sinopec made an acquisition in the caspian sea and the energy space. these are trying to secure resources. they are quite strategic. last but not least, you have the soa reform announcement. biggest takeover in the quarter was the takeover of civic. the child taking over the parent, the headquarters moving -- it aging to hong kong is seen as pretty important. >> those are all important drivers of growth. but to highlight a handful of it speaks to the potential of the m&a market. thank you so much for that. time for a look at some other stories we are following for you. saab is about to start making subs. a marine segment of th

tencent has also been doing this. why? they areth of them, looking for the middle-class spender but also with an eye on the internet market in china. 618 million internet users in china. >> more than europe and north america put together. >> pretty much double the population of the u.s.. they are all moving toward the smartphones were there buying and all the services that they want. you can do anything from booking a restaurant and pay for a taxi. ms. companies are really keen to grab that market and consolidate their hold on it as fast as they possibly can. tencent has this messaging platform that it has been spent morning from. a payment program that ali baba already has. recently, adding little stores where people from budgeting services can buy and sell things. with adirectly competing service that ali baba already provides. ali baba has added strengthen messaging. it has been trying to build up its services similar to tencent as well. they are competing pretty much in the same market as well as moving to new services

also accessan tencent users. >> what is driving acquisitions?ent and alibaba are fighting for supremacy in e-commerce. -- they arethey are looking more and more similar. users are slowly moving to using smartphones. they are try to get all these users into using apps. >> so they are just looking to use the apps or the smartphone as a portal to 1.3 billion people. ofthe latest installment transformers, general motors is hoping for some alien robot help. figures prominently in the latest installment of the transformers franchise. hereovie's debut occurred more than two weeks ago. it is a chance for chevrolet to telling a story. now with battling robots that convert into cars and trucks, for example, gm sees this -- sherry sees this as rash chevrolet sees this as a marketing tool. transformers could deliver a badly needed boost for chevy. 8.6% last year. but look at the famous bumblebee, made famous by the first transformers film back in 2007. that therey say bought in china and heller and they prefer the color yellow. in addition to the sauna, the

you see companies like xaoimi, tencent.has eclipsed facebook as the largest social media site in indonesia. when they can't get access to google services, it really stifles their ability to become true global players and make money for chinese shareholders. >> i'm going to play a game where i oversimplify and you can call me a moron. let me oversimplify and saying that this is the old guard thinking they can keep the world out and this is the new guard opening up to the commerce in new ways losing the battle? >> that is one of the best questions i have heard in a long time. actually, the answer is no. >> from me? >> from you. when president xi became president last year, they thought it would be a reformer and what you are not seeing. xi is a major reformer but is in strengthening the communist party. he has had a far-reaching crackdown on corruption which is created support among the chinese people. he has reformed political security as well as military apparatus. he is firmly in charge of the country right now in a way th