China Economic ReviewConsumption taxes on certain luxury goods are likely to be reduced to make mainlandproduced items more competitive in dutyfree shops, said the State Administration of Taxation. Officials did not say by how much they planned to cut the tax, which manufacturers pay at the wholesale level but pass on to customers at the retail level. […]
Doug DeVos, president of Amway unit Alticor, opened the company's 100th retail store in China in Shanghai at the end of February. The company, which uses direct selling in the rest of the world, had to switch to retail stores in China when the government banned direct selling in 1998. Stores now account for two-thirds […]
Yue Yuen Holdings of Hong Kong, the world's largest manufacturer of branded footwear, said it plans to become the biggest shoe retailer in the mainland over the next five years. Managing director David Tsai said that he wanted the business to have expanded at least 10-fold by 2008. Yue Yuen already operates 100 sports shoes […]
China is now the world's fourth largest producer of condoms, behind Britain, the US and Japan, according to a report compiled under the aegis of the State Family Planning Commission and quoted by Xinhua. The 300-plus domestic manufacturers have the capacity to produce more than 3bn condoms a year, while annual consumption stands at roughly […]
Tsingtao Brewery announced that beer sales met their target in 2002, having increased by one-fifth over the year to 3m tons. Sales of Tsingtao brand beer increased to 910,000 tons from 650,000 tons and exports more than doubled to 60,000 tons. Tsingtao is China's largest brewer, having acquired 48 small local breweries in the last […]