China Economic ReviewHong Kong-listed China Resources Enterprise has signed a deal to buy 65 per cent of Guangdong’s largest hypermarket chain from its parent China Resources National Corp, South China Morning Post said. Vanguard Super Department currently operates nine hypermarkets in the Pearl River Delta region and has plans to open 10 more this year in southern […]
Wal-Mart, the world’s largest retailer, is negotiating with Shanghai Light Industry Holdings to purchase a wide range of goods for sale in its stores. Shanghai Daily said that the deal was likely to include tinned and frozen foods, confectionery and the Phoenix brand of bicycles. Last year Wal-Mart bought goods worth US$10.4bn in China, mostly […]
Carrefour will transform two of its wholly owned stores in Liaoning province into joint ventures, one of its new partners was reported by Reuters as saying. The French retailer was planning to sell 35 per cent of its stores in Shenyang and Dalian to two Chinese companies in order to comply with government rules that […]
Annual sales of jewellery now total Yn100bn and are expected to continue grow by 8-10 per cent annually, said Liu Shengyu, general manager of China Jewellery Import and Export Company. China’s total gold consumption now exceeds 250 tonnes a year, and in 2001 consumption of platinum reached 42 tonnes, accounting for 60 per cent of […]
Drinks makers from Japan are strengthening their operations in China, according to a report in Nihon Keizai Shimbun. Using its beer sales network, Asahi Breweries hopes to sell 4.2m cases of tea drinks this year. Kirin Beverage Corp has increased the capacity of its plastic bottling factory in Shanghai and expanded its warehousing facilities. The […]