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Spending big abroad

"Xiexie," says a beauty store assistant as she sees out a group of Chinese customers carrying big bags full of cosmetics in South Korea's busy Myongdong commercial district. The shop clerk is not Korean but one of the Aritaum chain's Chinese employees, who make up 40 percent of ...

McDonald's raises prices

McDonald's, US fast food retailer, raises prices of some products in China starting July 13. US fast food giant McDonald's raised prices of certain products in China from July 13, the Beijing Times reported Monday. The price hike is the fourth since July 2010, the paper said. ...

Online market for medicines growing

With the rapid development of the Internet and the consequent changes in lifestyles and shopping habits, Chinese pharmacies are now further tapping into the online business-to-consumer (B2C) sector to raise profits. ForMe Drugstore, the largest chain drugstore in Shanghai, saw a ...

China's land prices see slower growth

China's land prices see a slowered growth in the second quarter of this year. The growth of China's land prices in 105 cities slowed in the second quarter, despite of a 1.87 percet increase on average from the previous quarter, the China Urban Land Price Dynamic Monitor, a land ...

Sitting in the lap of luxury

As if tuned to the tempo of the conductor's baton, the orchestra of the world's top fashion houses is playing a crescendo of price increases with surprising gusto. The well-orchestrated move has shocked observers from New York to Shanghai, coming, as it does, at a time when ...

Pork prices predicted to stabilize

A customer shops for pork at a supermarket store in Haikou, South China's Hainan province, June 21, 2011. Data show pork prices have surged more than four percent over the past ten days. [Photo/Xinhua] A senior government official in charge of animal husbandry with the Ministry ...

Longchamp to expand in China

The French luxury brand Longchamp SAS will accelerate its expansion in China to make the country one of its top-three markets in three years, the company's chief executive officer said. "Our company's business in the first six months in China increased 67 percent over last year, ...

Estee Lauder follows rivals to increase prices

An Estee Lauder Cos Inc advertisement in Beijing. Experts say increasing costs are driving companies to increase their prices. [China Daily] US-based cosmetics maker Estee Lauder Cos Inc raised the price of its brands by an average of 8 to 10 percent on July 1, a move that ...

Will developers get the message?

Diaoyutai No. 7, a luxury residential project in a prime locationin Beijing. [CFP] Two recent events in the property markets of Beijing and Shanghai raise some interesting questions about the government's campaign to crack down on the nation's real estate bubble. Last month, ...

Property firms come under price pressure

A surveyor at work outside a property in Beijing. Property companies are now under pressure to cut prices of new homes to ride out tightening measures. [China Daily] The mid-sized listed developer Beijing Capital Development Co is under pressure to cut new home prices later in ...

Estee Lauder raises prices

A lady walks past an adervertise of Estee Laudee. [CFP] US-based Estee Lauder said it is raising prices of several skin-care products by 8 to 10 percent this month due to rising costs. Brands such as Estee Lauder, Lamer and Clinique will be impacted by the price increase, the ...

E-retalier gets tax bill, triggers debate

China issued temporary guidelines on online trade and services on July 1 last year, introducing a real-name system for online stores. An online retailer in Central China's Wuhan was ordered Tuesday to pay 4.3 million yuan ($665,830) in taxes, the first such case disclosed in ...

Suning will take over Japanese Laox

Suning Appliance Co yesterday announced it will take majority control of Japanese electronics retailer Laox and open 150 Laox Life outlets in China in the next five years. Laox will issue 9 billion yen (US$111 million) worth of 257 million new shares through a private placement ...

Hefty tax bill worries online vendors

China's Administration for Industry and Commerce last year asked online vendors to register their information and apply for business licenses. 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 ...

Pork prices continue to rise

Pork prices keep their bull run in the week ended June 26 with an increase of 4.5 percent week-on-week, according to the Ministry of Commerce (MOC) on June 28. In China nowadays, it is pigs rather than bulls that touch the nerves of the markets. Pork prices kept their bull run in ...

China mulls luxury duties cut

China is expected to replace Japan as the world's top consumer of luxury goods by 2012 due to its growing demand and the declining consumption in Japan. Reducing import duty on luxury goods is only "a matter of time" as key ministries have reached general agreement on the issue, ...

More markdowns on homes

A man answers his mobile phone in front of a property project in Shanghai. Housing prices in Shanghai have fallen sharply as potential buyers are holding back purchase plans in the hope that they can benefit from a new housing policy to increase supply. [China Daily] The number ...

Post Bureau acts against express-delivery companies

Shentong Express' Zhejiang headquarters in Hangzhou. Revenues of the country's express-delivery business grew by 20 percent year-on-year in 2010, according to the State Post Bureau.[China Daily] The State Post Bureau clamped down on 56 express-delivery companies over a two-month ...

Ikea aims for 15 stores in China by 2015

An 18-month-old child and his mother arrive at the newly opened Ikea store in the Pudong New Area, Shanghai. The Swedish retail giant has been operating in the Chinese market for more than a decade. [China Daily] Eyeing increasing demand in the home products sector, Sweden-based ...

Record realty prices head to lower-tier cities

Property prices in a number of coastal cities are rising faster than those in large cities. Property prices in a number of coastal cities are rising faster than those in large cities as investors with deep pockets look to second- and third-tier cities amid tightening measures to ...
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company

industry

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trade

sports

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