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French department store to set up shop in Beijing

French premium department store chain Galeries Lafayette plans to tap into China's increasingly affluent consumer base by cooperating with Hong Kong-based fashion retailer I.T Limited to launch its first department store in Beijing. The planned opening, slated for around 2014, ...

Diesel shortage affects cremation business

A diesel shortage has not only made cars thirsty, but has also affected the operations of some funeral parlors in Southwest China's Chongqing municipality. Longxing funeral parlor in Chongqing's Yubei district has suspended cremation services for two days, as it cannot find ...

Siemens raises dividend

Siemens AG, Europe's largest engineering company, raised its dividend for the first time in four years on Thursday after reporting profit up 63 percent for the fiscal year 2010 and expecting further growth in fiscal year 2011. Siemens had a profit of 4.1 billion euros (5.6 ...

China's retail sales of consumer goods up 18.6%

China's retail sales of consumer goods grew 18.6 percent in October year on year, the National Bureau of Statistics (NBS) said Thursday. Retail sales of consumer goods stood at 1.43 trillion yuan (215.79 billion U.S. dollars) in October and the growth rate was 0.2 percentage ...

Smaller cities to be new battleground for luxury brands

Luxury goods sales in China are expected to rise 23 percent year-on-year in 2010, business consulting firm Bain & Company said on Tuesday. The world's leading adviser to the luxury industry attributed the strong growth mainly to continuous and aggressive expansion of internationa...

Imported food market grows

China's market for imported food products is expanding with the growth in the number of middle-income consumers, industry sources have said. "China's potential as a food-importing country is vast and it will continue to grow as the Chinese middle-income market becomes bigger. ...

EU approves Philips' sale of TV business in China

The European Commission on Tuesday approved the acquisition of the sale and distribution activities of branded color TVs in China of the Dutch company Koninklijke Philips Electronics by TPV Technology, a Bermuda-based manufacturer of monitor displays and color TVs. "After ...

Chicago soybeans hike to 26-month high

Chicago soybeans hiked to a 26- month high as the slash in the estimate of soybean supply surpassed earlier expectation while both corn and wheat saw decline in price due to mild reduction in supply estimate. The most active corn contract for December delivery dropped nine cents, ...

Biopharmaceutical firms told better quality control holds key to global growth

The country's biopharmaceutical industry needs to tighten quality control measures and maintain its own standards to overcome barriers in overseas markets as well as secure an emerging domestic one, officials have said. "Quality problems in food and pharmaceutical products will ...

Middle-class the key for multinationals expansion

China's middle-class consumers in smaller cities are more likely to increase their spending and to trade up than their counterparts in top-tier cities, presenting a huge growth opportunity for multinationals, said a report released by the Boston Consulting Group (BCG) on Monday. ...

Shoppers get creative to save

A likely new round inflation is making economical shoppers in China change their buying habits. [Full coverage: Price hike] While waiting at Hong Kong's Sheung Shui railway station for the train back to Shenzhen, only a stone's throw to the north, Xiao Wen is discussing her ...

Rising prices change lifestyles of Chinese shoppers

As China is likely to face a new round of all-around inflation, economical shoppers in the country are changing their buying habits to cushion the increasing pressure from rising prices. While waiting at Hong Kong's Sheung Shui railway station for the train back to Shenzhen, only ...

Restructure to create retail giant

Shanghai Bailian Group, China's biggest retailer, has stepped up its corporate restructuring by merging its two listed department store operators. Shanghai Friendship Group Inc, in which Bailian Group holds a 27.3 percent stake, will merge with Shanghai Bailian Group Co Ltd ...

Yili forms strategic partnership with Disney

Yili Industrial Group Co. Ltd., one of the country's leading diary products manufacturers, announced Monday the formation of a strategic partnership with Walt Disney Company. The two parties will work together on product and marketing activities in the next five years starting ...

Service sector development urged

The government's goal of developing China's service industries during the 11th Five-Year Plan (2005-2010) may not be achieved within the timeframe, but the sector has huge potential for rapid growth during the next five years, said analysts. "It will be very hard for us to reach ...

9 new stores by March for cosmetics maker

Sa Sa International Holdings Ltd, Asia's largest cosmetics retailer, plans to step up its expan-sion on the Chinese mainland, which is expected to become its key growth driver. The mainland market will be a priority for Sa Sa in the next two years, with outlets expected to number ...

Wedding exhibition set to be better than ever

The 19th China Shanghai International Wedding Photographic Equipment Exhibition & International Children's Photography, Theme Photography Exhibition is scheduled to be held from Feb.23-26, 2011, concurrently at the INTEX Shanghai, Shanghaimart and Shanghai Everbright Convention & ...

PayPal available on Air China's Website

Air China announced that PayPal's online payment service is now available on Air China's website. From December 20th travelers can book and purchase tickets using PayPal on Air China's website in the United States, Australia, Singapore and South Korea. Air China officially opened ...

Talent shortage in China's luxury brand sales

Many makers of luxury brands that aggressively expanded in China in recent years are finding themselves caught up in a shortage of skilled management. "Although there is a comparatively sound management talent supply channel for luxury brands in Beijing and Shanghai, the talent ...

Jin Jiang adds J to portfolio

Shanghai Jin Jiang International Hotels (Group) Co Ltd announced over the weekend that it will launch the new J luxury brand as it seeks to further tap Chinese mainland's high-end hospitality market. The company expects to open 10 to 12 J hotels in major gateway cities across the ...
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Latest World News

china

China's reform leading group holds first meeting
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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
Super car club in commercial drive
On the night of Nov 11, more than 150 super cars were driven into the ...
Chinese steelmakers see profits plunge
Chinese steelmakers see profits plunge
China's 77 major steel companies reported an average profit margin of ...
Court rejects Apple lawsuit over iPad name
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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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Yao's gift of sport for all
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Chinese NBA player Yao Ming teaches a boy with special needs how to ...
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