China’s stratospheric retail sales growth is drawing in consumer firms like flies to name-brand honey. Retail sales grew 15.4% year-on-year in August, up from 15.2% in July – figures particularly alluring to foreign brands at a time when US retail sales are flat in most areas. As many retail businesses in China are aware, however, […]
Category: Consumer
It’s been a miserable year for Chinese exporters, and official figures still paint a gloomy picture. Even in July, when most Chinese factories ship their Christmas goods to the West, exports fell by 22.8pc. Will it be bare underneath the tree this year? Well, exports have fallen, year-on-year, every month so far in 2009, culminating […]
A.O. Smith, a major US water heater and electric motor manufacturer has paid US$77 million to enter China’s water treatment market, AP reported. The Milwaukee company will buy an 80% share of Tianlong, a Hong Kong-based water treatment company, using its cash flow and credit facilities. Paul Jones, chairman and CEO of A.O. Smith, said: […]
Nissan Motor, Japan’s third-biggest car manufacturer, expects to exceed its target in China this year due to tax cuts and government subsidies in Asia’s biggest auto market, Bloomberg reported. Takashi Nishibayashi, head of Nissan’s China department, said Nissan expects to exceed its sales goal of 570,000 vehicles in 2009, but stopped short of giving a […]
China Resources Enterprise may sell its stake in a joint venture with clothing company Esprit Holdings in order to focus on its retail, food and beverage businesses, Bloomberg reported. Frank Lai, CFO of China Resources Enterprise, confirmed that the company was in talks with interested parties over the sale of the “non-core business,” but he […]