China Economic ReviewA survey conducted by the China Association of Hotels and Restaurants found that business volume in the catering industry in 10 leading cities was down 80 per cent in the first half of May. Restaurant enterprises were identified as being one of the hardest hit sectors by Sars, with many forced to stop operation, reduce […]
Tsingtao Brewery, China's largest beer maker, reported net profits of Yn223m for 2002, 166 per cent higher than in the previous year. The company said the results were helped by improved sales volume, cost controls and operating efficiency. Sales rose by 21 per cent year-on-year, compared with a national average of 6-8 per cent, and […]
Asahi Breweries is to spend US$42m on a new joint venture beer plant in Beijing that is due to start operations next spring. It will have an annual capacity of 100,000 kilolitres and produce beer in bottles, cans and barrels. The Japanese brewer currently operates five plants in China, with a combined output of 510,000 […]
Shanghai plans to merge the companies owning four of the country's largest retailers to prepare for growing competition from foreign retailers in China, Dow Jones reported. The parent companies of Lianhua Supermarket Holdings, Hualian Supermarket Co, Shanghai No 1 Department Store and Shanghai Material Trading Centre would be owned by a holding company, reportedly to […]
French-owned supermarket chain Carrefour has formed a joint venture with a unit of Shanghai Lianhua Supermarket Co, China's biggest grocery chain, to run discount stores in Shanghai, according to a report in Shanghai Daily said. Shanghai Dia Lianhua Retailing would be 45 per cent owned by Lianhua and 55 per cent owned by Promodes, a […]