China Economic ReviewWal-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 […]
Hong 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 […]
Alcatel has formed an integrated group of its Shanghai manufacturing operations and launched it as Alcatel Shanghai Bell at the end of May, South China Morning Post said. The head of Alcatel’s China operations said that it plans to become the mainland’s top telecommunications gear maker. To this end, the company will more than double […]
International public relations giant WPP announced that its subsidiary Ogilvy would buy a 60 per cent stake in the Chinese public relations firm Beijing H-Line Consulting to form the largest public affairs group in China. After the acquisition, Ogilvy will continue to run its China operations separate from those of the new company, which will […]
China Central Television has banned foreign celebrities from appearing in advertisements on its channels. Its announcement gave no reason but sources at the station said that the decision followed a telephone call from the central government asking it to cease broadcasting advertisements featuring South Korean superstar Kim Heesun and Bora Milutinovic, the recently retired coach […]