LEGO and Tencent strengthen ties as toymaker with China
Danish toy company LEGO and the Chinese tech giant, Tencent, announced the renovation of their memorandum of understanding to "further strengthen and expand their strategic partnership in digital play experiences for Chinese children," companies said in a press release.
memorandum n. 备忘录 便签 【简写：memo】
digital play 数字游戏
press release 新闻发布会
For Tencent, the renewal can help boost its leading role in the toys and games sector even further, according to Euromonitor International. As for LEGO, the company can solidify and expand its market position in China, a double-digit growth market, as it tries to keep up with the digital age.（此处 as 作为时间状语从句）
renewal n. 恢复 更新 重新开始
renew v. 更新 重新开始
renewable adj. 可更新的 可再生的
solidify v. 使凝固 变硬 使结实
solidity n. 固态 坚固性 可靠性
solidification n. 固化 硬化
keep up with 追上 赶上
catch up with/to
According to Tencent, "in the next two years, the two parties will deepen collaboration in areas including video, game and digital child safety, and explore opportunities to collaborate in areas of digital social community（数字社会社区）, intellectual property（知识产权）, and corporate social responsibility（企业社会责任）."
The extension includes the development, publication, and operation of software applications that support LEGO toy sets, and also the improvement of children's digital literacy（数字素养）.
illiteracy n. 文盲
illiterate adj. 不认识字的，文盲的
literal adj. 文字上的 字面上的
literary adj. 文学的
literate adj. 有文化的 有教养的
literature n. 文学
A Euromonitor International report stated that the Chinese tech company has been the leader in the overall toy market in 2018, and has been working "to strengthen its position in the market through partnerships with both foreign multinationals and local players."
In China, 20.9 percent of Internet users are under 18, and according to Euromonitor International, the traditional toys and games sector in China grew from 276.5 billion yuan (40.15 billion U.S. dollars) in 2017 to 317.5 billion yuan (47.45 billion U.S. dollars) in 2018. The number was expected to rise to 352.4 billion yuan (51.17 billion U.S. dollars) in 2019.
has been doing 现在完成进行时
Ann is very tired. She has been working hard.
It has been raining for two hours. (现在还在下)
China market push
Founded in 1932, by Ole Kirk Kristiansen, the LEGO Group now looks at China as one of the fastest-growing markets and one that the company intends to keep expanding in, according to statements made by CEO Niels B. Christiansen in the 2nd China International Import Expo.
LEGO's 2019 annual report is still not out, but the 2018 edition indicated that, in that year, most market revenues grew in the low single-digits（单位数）, while the Chinese market reflected a "strong double-digit growth."
The plan was to continue to expand its presence through traditional retail channels, branded stores, e-commerce, and digital platforms. By the end of 2019, the company had 140 stores in China and another 80 are planned to open this year.
In terms of e-commerce, it has partnered with JD.com, China's largest online retailer, and even featured a JD deliveryman as the central figure in a movie short commemorating "LEGO Super Brand Day" back in 2017. This partnership started in 2015, and in the following year, LEGO sales through the platform nearly doubled.
To keep in touch with the Chinese market, LEGO launched its second Chinese New Year sets this year. The 2020 Spring Festival sets include the Lion Dance and the Temple Fair and has been available in China and Asia Pacific markets since December 26.