China Economic ReviewChina's retail sales were estimated to grow by 8.7 per cent in 2002, down from the 10.1 per cent expansion recorded in 2001, according to a report published by the State Economic and Trade Commission in December 2002. Fast sales growth in major cities of consumer goods such as cars and mobile phones was balanced […]
German-based retailing giant Metro plans to invest US$300m to open 40 new stores in 12 Chinese cities, Business Weekly said. As a first step in the plan, Metro will open seven stores next year, in Beijing, Xiamen, Fujian province, and Xian, Shaanxi province. So far, Metro has invested US$150m in China and has opened 16 […]
the first of 10 in the capital to be built in a joint venture with Beijing No 1 Commerce Group. The French-based company also plans to open a further 10 stores in other locations in northern China within the next five years. Northern China was selected as its development focus because it had commissioned a […]
Guangdong Price Bureau has ordered hypermarket operators to stop selling home appliances and mobile phones at below cost, South China Morning Post said. Disciplinary action will be taken against offenders, who face fines ranging between Yn30,000 and Yn300,000. The rule was announced at a meeting attended by about 40 leading domestic and foreign retailers. The […]
Ethan Allen Interiors, the largest US furniture retailer, opened its first Chinese store in January. The showroom in Tianjin was built under an agreement with Markor Furniture International to develop a chain of Ethan Allen stores in China. It will be followed by showrooms in Beijing and Urumqi, Xinjiang autonomous region. Markor, which manufactures furniture […]