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Tesco opens logistics center as it expands

Tesco Plc China will open more than 20 stores this year and has opened its first freehold and largest logistics center in coastal Zhejiang province. Tim Ashdown, chief executive of Tesco China, said that in addition to its core business around Shanghai, the company plans to ...

A taxing issue for online shops (3)

'It will be death' Yu Kai, 40-year-old boss of an online store based in Wuhan, foresees more than "a short-term hurt". If the government taxed Internet sales, he said, it would kill his business. "It will be the death of almost all Net stores." Yu's company has sold auto parts on ...

A taxing issue for online shops (2)

85% 'no' votes Sina Weibo, a popular Chinese language Twitter clone, asked users in late June: "Do you support the collection of tax on online stores?" As of Monday, more than 5,200 votes had been cast, 85 percent of them against the idea. Most of those who commented said they ...

A not-so-hot property

Tightened bank lending and falling prices are beginning to take their toll on property developers in some of the hottest markets around the country, from Beijing to Shanghai to Guangzhou. While many cash-strapped developers in major cities are trying to keep their heads low, ...

Amazon launches new platform

China's leading online shopping platform Amazon.cn yesterday launched an open platform that allows third-party vendors to sell on its website. Vendors can apply to open store fronts and choose to use Amazon's logistics and delivery services for a 2 to 7 percent commission.

Hefty Tax Bill Worries Online Vendors

An online seller in Wuhan, Hubei Province, has been ordered to pay 4.3 million yuan (US$664,600) in business tax, as the city becomes the first city government to tax Internet vendors. Industry people said the move may force online vendors to raise prices while others said it ...

Walmart Sets up E-commerce Hub in Shanghai

Walmart, the world's leading retailer, announced on Monday that it is setting up an e-commerce hub in Shanghai to handle the group's online business operations in China. It will be Walmart's second e-commerce hub in the world after the one in New York. Barry Friedman, vice ...

Property firms fined for irregular price markings

Twelve property firms have been fined a total of 3.64 million yuan (about 563,000 U.S. dollars) by China's price watchdog for failing to mark or fabricating the sale prices of homes they were selling, according to the country's top economic planner. The malpractices were ...

Property firms fined for irregular price markings

BEIJING -- Twelve property firms have been fined a total of 3.64 million yuan ($563,000) by China's price watchdog for failing to mark or fabricating the sale prices of homes they were selling, according to the country's top economic planner. The malpractices were discovered ...

UnionPay, Huaxia Bank jointly tap mobile payment market

BEIJING -- China UnionPay, one of the world's leading bank card associations, said it has signed a framework agreement with Huaxia Bank to cooperate in the field of cell phone payment. The two companies will jointly work to improve their financial services and increase cooperatio...

China UnionPay, Huaxia Bank explore cell-phone payments

China UnionPay, one of the world's leading bank card associations, said it has signed a framework agreement with Huaxia Bank to cooperate in the field of cell-phone payment. The two companies will jointly work to improve their financial services and increase cooperation in ...

New Era for 3rd-party Payment Firms

China's third-party online payment industry is set to take off in the next couple of years, with the number of players and services certain to expand. The industry was given a boost when the People's Bank of China recently announced licenses for 27 non-financial institutions to ...

Wal-Mart China exec Shawn Gray resigns

Wal-Mart Stores Inc (WMT) said its vice president of operations in China left the company, becoming at least the third executive from that nation to depart in the past month. Shawn Gray left for "personal reasons," Wal-Mart said in an e-mail today. The Bentonville, Arkansas-based ...

Groupon: Gaopeng margins 'greater' than 10%

Groupon Inc, owner of the biggest coupon website, said its China venture is achieving margins "much greater" than 10 percent even with competition from thousands of clones in the world's largest Internet market, Bloomberg reported Friday. Since establishing the Gaopeng venture in ...

Italy's Retail Giant Opens Luxury Outlet in China

Italian fashion retail giant RDM opened a luxury outlet in northeast Tianjin city on Thursday, its flagship store in Asia, aiming to have a share in China's booming luxury product market. The Florentia Village-Jingjin Designer Outlets were jointly built by RDM Group and Waitex ...

Beijing home prices feel the chill of cooling measures

BEIJING - New-home prices plummeted by more than 20 percent year-on-year in the capital city in May, and analysts said other cities will follow the trend in the second half of this year. In Beijing, the average price of a newly constructed unit dropped to 23,467 yuan ($3,400) a ...

Beijing feels chill of cooling property measures

New-home prices plummeted by more than 20 percent year-on-year in the capital city in May, and analysts said other cities will follow the trend in the second half of this year. In Beijing, the average price of a newly constructed unit dropped to 23,467 yuan ($3,400) a square ...

Q+ Seeks to Cement Tencent Position

Tencent, China's largest Internet company, is adding an array of enhanced services to its core QQ instant messaging site after data showed the amount of time users spend chatting online is slipping. Tencent unveiled its Q+ desktop software last year, offering online video ...

Q+ seeks to cement Tencent position

Tencent, China's largest Internet company, is adding an array of enhanced services to its core QQ instant messaging site after data showed the amount of time users spend chatting online is slipping. Tencent unveiled its Q+ desktop software last year, offering online video ...

Price rises hit home buying

Random price increases by owners of existing homes have dampened local buying momentum in May, with some areas in Shanghai suffering a double-digit drop in sales, two of the city's largest estate agencies reported yesterday. Across the city, the used housing market seemed largely ...
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