Sparkice, Beijing's first internet cafe operator, has closed its last internet cafe, South China Morning Post said. The cafe, in Beijing's World Trade Centre, had around 200 customers a day before the government ordered the closure of all internet cafes for safety checks in June. Permission had since been given for the cafe to re-open […]
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Advertising spending in China in the second quarter of 2002 was US$3.8bn, an increase of 33 per cent year-on-year, according to a survey by Nielsen Media Research. The company said that a strong domestic economy and the staging of Asia's first football World Cup were the major stimuli for the sector. Multinational agencies have strengthened […]
Anheuser-Busch, the world's largest brewer, has signed an agreement to buy 22 per cent of Tsingtao Brewery, 21st Century Business Herald said. The American brewer now holds 27 per cent of Tsingtao's shares listed on the Hong Kong stock market, making it the second largest shareholder in the company after Qingdao city's asset manage- ment […]
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Interim profit falls at Haier
Qingdao Haier, the listed unit of China's biggest appliance maker, said that net profit for the first half of 2002 was down by 45 per cent year-on-year to just Yn219m. The company blamed the late arrival of China's hot season, the peak period for air conditioner sales, forcing it to rely on lower-priced exports. In […]
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Phone giants in price war
China's two mobile phone companies are engaged in a price war in several provinces, pitching prices below the levels set by the government, said the People's Posts and Telecommunications, the official newspaper of the Ministry of Information Industry. A China Mobile branch in Sichuan province was reported to be offering customers rates described as 'a […]