China Economic ReviewRetail sales in Beijing during the first four days of the Spring Festival holiday hit a record US$89m, according to figures released by the Beijing Municipal Commerce Information Service Center. According to the data, the number of customers visiting the capital's biggest department stores on the third day of the holiday traditionally the peak shopping […]
State media, calling China "the country credited with inventing toilet paper" said excessive use of it and tissues was threatening wood supplies and raising calls for a return to handkerchiefs. Said Wang Yueqin, vice-director of Shanghai Paper Trade Association: "While I am happy to see many young people adopt paper tissue for its convenience…I am […]
Carrefour and Wal-Mart, the world's two biggest retailers, saw robust sales growth in their China operations in 2004, according to figures from the Ministry of Commerce. France-based Carrefour, currently the biggest foreign retailer in China, posted sales of US$1.9bn in 2004, up 20.9%. In the same period Carrefour added another 19 stores to its China […]
Spotting an overlooked niche in the market, a Chinese entrepreneur is planning to launch a range of fish wine, Xinhua reported. Sun Keman, a former fish trader based in the northeastern port city of Dalian, has formed the Dalian Fisherman's Song Maritime Biological Brewery which will clean, boil and ferment fish into wine, the report […]
McDonald's plans to boost its mainland network to 1,000 by 2008 from its current 640 outlets, increasingly through franchising, the South China Morning Post reported, quoting Marvin Whaley, president for Asia, the Middle East and Africa. Currently, all but one new outlet in Tianjin are run as joint ventures.