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Wal-Mart China CEO resigns

Wal-Mart China's president and chief executive officer Ed Chan resigned on Monday. [File photo] US retail giant Wal-Mart announced Monday that Wal-Mart China's president and chief executive officer Ed Chan resigned, after the chain's pork mislabeling scandal was exposed. "Wal...

Taobao Mall postpones fee hike

File photo: China's largest business-to-consumer platform, Taobao Mall, announced Monday that it will postpone raising its annual service fees and deposits for its registered sellers, after its small vendors protested the move. China's largest business-to-consumer platform, ...

Ministry intervenes in Taobao controversy

China's largest business-to-consumer online marketplace, Taobao Mall Co, last Tuesday announced significant increases in the commission rates and premium fees it charges to all online shops, which outraged small dealers. [File photo] The Ministry of Commerce intervened on ...

Taobao mall vendors end protest as ministry steps in

China's largest business-to-consumer online marketplace, Taobao Mall Co, last Tuesday announced significant increases in the commission rates and premium fees it charges to all online shops, which outraged small dealers. [File photo] Small vendors at Taobao Mall Sunday said they ...

Policy about-turn in Foshan home limits

Foshan, a third-tier city in the southern province of Guangdong, has become the nation's first city to ease recent restrictions on home purchases by allowing local families to buy an additional residence. Further, it has decided to make residences that have been owned for at ...

Vendors rebel against Taobao Mall changes

China's largest business-to-consumer online marketplace, Taobao Mall Co, on Tuesday announced significant increases in the commission rates and premium fees it charges to all online shops, which outraged small dealers. [China Daily] Taobao Mall Co, China's largest business-to...

Loopholes suspected in Wal-Mart management

Officials with the Chongqing Municipal government said on Tuesday that the business management of Wal-Mart may be "problematic" after 13 Wal-Mart stores in the city were closed temporarily and fined over a case of product mislabeling. Pedestrian walks past a Wal-Mart signboard on ...

Wal-Mart punished for pork mislabeling

Ten Wal-Mart stores and two affiliates have been ordered to temporarily close and pay 2.69 million yuan in fines. [File photo] U.S. retail giant Wal-Mart has been ordered to temporarily shut down some of its stores in southwest China's Chongqing and pay fines totaling 2.69 ...

Dishwashers to be the next big home appliance must-have?

Ding Ning, a 30-year-old new mom in Beijing, decided to spend a month's salary on a dishwasher after having her new baby. "The dishwasher saved me a lot of time so I could have a little more energy to take care of my boy," said Ding. Ding is not the only person to buy a ...

Wal-Mart Stores shut down over fraudulent pork

Wal-Mart stores in Chongqing municipality are closed for accusation of selling ordianry pork as organic pork. [CFP] Ten Wal-Mart Stores in Chongqing municipality have been shut down after the retailers were charged with fraudulently selling ordinary pork as organic pork, ...

Disney extends CEO's contract through 2016

Robert A. Iger, 60, has served as President and Chief Executive Officer of the Company since October 2005. [File photo] The Walt Disney Co. announced on Friday that it has agreed to add a chairman title for Chief Executive Officer Rober Iger and will extend his contract until the ...

Tourism sees surge for National Day

The number of tourists at national scenic spots increased sharply during the weeklong Nation Day holiday, causing many well-known sites to be packed with crowds. From Oct 1 to 7, the days of the holiday, about 24.3 million tourists went to the 119 national scenic spots that are ...

Tycoon's Apple price-cut joke leaves a sour taste

Pan Shiyi, China mainlands's real estate tycoon. [File photo] A well-known Chinese property tycoon who joked that Apple should slash its prices as a tribute to Steve Jobs has been inundated with criticism from web users. Irate microbloggers said it was rich for developer Pan ...

'Golden Week' disappoints property developers

The 7-day National Day Holiday, dubbed as the "Golden Week" for businesses, has obviously disappointed real estate developers with gloomy sales results. Official statistics show that in the first five days of the holiday, only 547 housing units were sold in Beijing, down 24 ...

Blackstone quits properties investment in China

A woman passes across a street in a compound full of skyscrapers. The world's largest private equity firm Blackstone Group agreed to sell a 95 percent stake in Shanghai Channel1 shopping mall to Hong Kong's New World Development Co. for 1.46 billion yuan (US$228 million), marking ...

Hurun: Property is still key to riches

Source: hurun.net The real estate industry is the biggest source of wealth for the richest people in China, the country with the largest number of US dollar billionaires, said Rupert Hoogewerf, chairman and chief researcher of Hurun Research Institute. About 23.5 percent of the 1...

Yacht industry targets Chinese wealthy

Visitors board onto Accelera 98, an exhibited yacht in 2011 Gold Coast Yacht Country Club (GCYCC) in Hong Kong, south China, May 7, 2011. [Photo/Xinhua] China's yacht market is small at present, but it will grow bigger in the coming years, industry insiders said. "The yachting ...

Super rice needs time to go commercial

It could take some time for China's new breed of super rice to be cultivated on a large scale, said Liu Shi, chief executive officer of Yuan Longping High-Tech Agriculture Co Ltd (Long Ping High-Tech). Yuan Longping, expert in hybrid rice. "The super rice requires a certain ...

Property developer going underground

Real estate projects under construction in Wenzhou, Zhejiang province. Many local developers have turned to underground financing as China tightens bank lending policies. [China Daily] Months before the central government declared war on the "gray" money market, merchants in ...

More Chinese cities see home prices fall in August

More cities reported lower or unchanged real estate prices in August than in July, the National Bureau of Statistics (NBS) said on Sunday. More cities have reported lower or unchanged home prices in August as previous government efforts to tame the overheated real estate market ...
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china

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market

finance

Xinhua Feature: World's political, business leaders gather in Davos for WEF
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company

industry

Super car club in commercial drive
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Chinese steelmakers see profits plunge
Chinese steelmakers see profits plunge
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trade

sports

Stars 'Big Three' fall short of title in 1st year
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Li Na wins French Open women's singles title
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Chinese NBA player Yao Ming teaches a boy with special needs how to ...
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