Sanyuan Foods and the Chinese government are to jointly give scandal-plagued dairy firm Sanlu Group a capital injection, in a prelude to Sanyuan becoming a trustee of and eventually acquiring Sanlu, the South China Morning Post reported, citing an industry source. Sanyuan, which has suspended trading its own shares since September in expectation of a […]
Category: Consumer
Consumer-focused conglomerate China Resources warned of a tougher operating environment after seeing third-quarter profit drop by 12.3% to US$86.6 million, the South China Morning Post reported. "Looking forward, [the] retail market will inevitably be affected by the reversal in market sentiment following the recent financial [turmoil]," Mark Chen, the firm’s managing director, said. The company’s […]
The US Food and Drug Administration (FDA) will open three offices in China this week to ensure the safety of exports headed to the US, AP reported. These will be the first FDA offices outside the US. The first will open in Beijing on Wednesday, followed by one in Guangzhou and another in Shanghai. Mike […]
The EU and China on Monday signed an agreement to improve cooperation on consumer safety, AP reported. Under an agreement, the two sides will find ways to speed up the exchange of information on tainted food and other dangerous goods. EU officials will also be allowed to check on producers in China to ensure safety […]
China’s retail sales grew 22% year-on-year in October, down slightly from 23.2% in both September and August, on weaker consumer sentiment amid a slowing economy, state media reported. Total sales reached US$148 billion for the month. Grain and edible oil sales rose 10.2% year-on-year, compared with 28.6% in the first three quarters. Meat, poultry and […]