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GOME founder's breakup threat

Jailed Chinese tycoon Huang Guangyu is threatening to split electronics retail giant GOME by developing its unlisted part separately, in the latest twist in a long-running battle between the company founder and its incumbent management. Huang, still the largest shareholder of ...

Retailer takes over Jiadeli to expand

HNA Retailing yesterday announced it invested 900 million yuan (US$135 million) to acquire Jiadeli Supermarket as it embarks on a strategy to expand its business nationwide by the end of next year. The company, a retailing arm of China's fourth-largest aviation group HNA Group, ...

Golden Eagle to add stores

Golden Eagle Retail Group Ltd, an upmarket Chinese department store chain operator listed in Hong Kong, said yesterday in Shanghai that it plans to increase its portfolio on the Chinese mainland. Golden Eagle plans to expand to more than 30 stores in 20 cities from its current 19 ...

Surprise LVMH move

French luxury goods group LVMH said on Saturday that it was buying a minority stake worth 1.45 billion euros (US$2 billion) in family-controlled handbag maker Hermes but would not seek to take over the group or influence its strategy. The move will see LVMH - which owns champagne ...

China pledges to enhance sugar market regulations after price hits record high

China's Ministry of Commerce (MOC) vowed to step up regulation of sugar markets on Sunday after reserves helped stabilize prices which recently rose to a record high amid continuing harsh weather. Between Oct. 10-17, the retail price of small-packed sugar averaged 7.68 yuan per ...

Mengniu says sorry, and accuses

Chinese dairy producer Mengniu Dairy Group Co yesterday apologized for the first time to rival Yili Group and consumers for an online libel scandal allegedly orchestrated by one of its managers. This is a marked shift from Mengniu's previous tough stance, where it insisted that ...

HK wine imports grow 73 pct in first 8 months of 2010

Hong Kong saw a growth of 73 percent in the value of total wine imports in the first eight months of 2010, continuing to develop as Asia's wine hub, said an official here on Friday. Secretary for Commerce and Economic Development Rita Lau said HK has been making the most of its ...

Chinese city expects 2,000 jewel traders at upcoming festival

About 2,000 traders from home and abroad are expected to participate in a jewel festival this month in Wuzhou city, south China's Guangxi Zhuang Autonomous Region, the city's mayor said Friday. Wang Kai, Mayor of Wuzhou, where about 70 percent of the world's synthetic jewels are ...

Mengniu denies trying to smear competitor

A senior executive with the dairy producer Mengniu has said the company will cooperate with a police investigation into alleged libelous remarks made by staff at Mengniu about an industry peer. Hu Sudong, vice president of Mengniu, said that An Yong, arrested as one of the ...

Fonterra goes ahead with second dairy farm in China

New Zealand's dairy industry giant Fonterra has signed an agreement on a new 42 million NZ dollars (US$32 million) farm in northern China, its second such venture in the country. The indoor farm in Hebei Province will milk about 3000 cows which will be imported from New Zealand ...

Smear scandal sours China's dairy image

China's dairy giants are locked in a bitter battle after a leading industry player, Mengniu, was accused of fabricating product safety scandals to tarnish the images of its rivals, a charge the Hong Kong-listed company denies. The alleged backbiting underscores the brutally ...

China box office hits US$1.1 bln in Jan.-Sept. period

China's box office receipts reached 7.58 billion yuan (US$1.14 billion) in the first three quarters of the year, an official at the State Administration of Radio, Film and Television, said Monday. At the opening ceremony of an exhibition on Hong Kong movies in Shanghai, Zhang ...

Carrefour buys 51% of Baolongcang

Carrefour SA, the world's second-largest retailer by sales after Wal-Mart, will own more than 30 new outlets in China this year after acquiring 51 percent of the Hebei-based hypermarket operator, Baolongcang, in July. The acquisition echoes the French retail giant's previous ...

China likely to be world's No 2 movie market by 2015

China's box office takings are likely to reach between 30 billion yuan ($4.5 billion) and 40 billion yuan ($6 billion) in 2015 to make it the world's second-largest movie market, an industry association said Wednesday. The movie market in the world's second-largest economy has ...

Diamond market shines bright

Mention diamonds and the chances are people will think of South Africa, home to the gemstone-rush in the late 1800s after a young shepherd named Erasmus Jacobs found a small white pebble along the bank of the Orange River. That white pebble turned out to be a 21.25 carat diamond, ...

China's tourist arrivals in U.S. to top 2 mln

Over 2 million Chinese tourists are expected to visit the United States, and 3 million U.S. tourists will visit China, by 2015 if the current momentum of rapid outbound tourism growth continues, a chief Chinese tourism official said Sunday. The optimistic forecast by Shao Qiwei, ...

Fast Retailing forecasts profit dip

Fast Retailing Co, Asia's biggest clothing chain operator, forecast full-year profit will fall 17 percent because of lower same-store sales in the first half. Net income will probably be 51 billion yen ($619 million) for the 12 months ending August, compared with 61.7 billion yen ...

Coca-Cola to maintain China growth fizz

Coca-Cola's $2-billion China expansion plan is right on track with two more new facilities in the pipeline this year, a senior executive of the global beverage maker told China Daily on Monday. "Everything is well on track. We opened three plants last year, with two new ones ...

Jam-busting service on the road in many cities

With more Chinese people getting behind the wheel every day, traffic jams are a major headache in most cities but the gridlock has become an opportunity for some entrepreneurs who are offering an escape route - for a price. Drivers who get stuck in traffic in some cities can now ...

Shanghai-Disney deal gets pricey

Mickey Mouse and Company are coming to Shanghai, but they're going to have to contend with a bit of debate over the exorbitant cost of a Disneyland that is predicted to cost more than the World Expo. Citing the Shanghai government, the 21st Century Business Herald reported ...
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Latest World News

china

China's reform leading group holds first meeting
China's reform leading group holds first meeting
BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...
Merck to put $1.5b in R&D
Merck to put $1.5b in R&D
Merck Sharp & Dohme (MSD), the world's second-largest drug producer by ...
Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...

market

finance

Xinhua Feature: World's political, business leaders gather in Davos for WEF
Xinhua Feature: World's political, business leaders gather in Davos for WEF
DAVOS, Switzerland, Jan. 22 (Xinhua) -- The snow-covered Swiss town of ...
China economic reform in focus at World Economic Forum
China economic reform in focus at World Economic Forum
There’s been much talk of China at the World Economic Forum-and a ...
Economist sees world economy strengthening in 2014
Economist sees world economy strengthening in 2014
NEW YORK, Jan. 24 (Xinhua) -- Global economy is likely to gain ...

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
Court rejects Apple lawsuit over iPad name
Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...

trade

sports

Stars 'Big Three' fall short of title in 1st year
Stars 'Big Three' fall short of title in 1st year
Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
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