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China's new plan to set 30t yuan retail sales target

China will release its first domestic trade and logistic plan for the 12th Five-Year Plan (2011-2015) and set a target for total retail sales to reach 30 trillion yuan ($4.63 trillion) by 2015, Economic Information Daily reported Thursday. The plan will position logistics as the ...

Nanjing Rd rents rise to 29th in world

Rents for retail shops on Nanjing Road W. in Shanghai are the 29th-most expensive in the world, a global real estate service provider said yesterday. Annual rents for retail shops on the downtown street rose nearly 24 percent year on year to US$325.91 per square foot as of March. ...

Dairy giant Lactalis wins EU approval to buy Parmalat

French dairy giant Lactalis has won approval from European Union (EU) antitrust regulator to buy Italian rival Parmalat, a deal which would create the world's largest dairy producer. The European Commission said in a statement on Tuesday that the takeover would not significantly ...

Showbiz market expected to grow to $96b

China is expected to overtake Germany this year to become the world's third-largest entertainment and media market with spending hitting $96 billion, according to a report published by PricewaterhouseCoopers (PwC) on Tuesday. The country's overall spend on entertainment and media ...

Developers see increased foreign investment

Foreign investors recorded the biggest increase among the various financing channels for Chinese property developers in the first five months of this year as they bet on better investment opportunities amid the country's tightening real estate policies. The foreign capital used ...

Discovering a taste for upmarket food

Mercedes-Benz, BMW and Rolls Royce cars are frequent sights on Shanghai streets. Opulent shopping malls in the city's center are home to many exclusive fashion brands, such as LV, Prada and Ferragamo. Now the latest addition to these symbols of prosperity are high-end supermarket...

Chinese businesses urged to set up service posts

Shopping malls, supermarkets and other retail businesses are encouraged to set up service posts inside their business locations to facilitate the settlement of disputes with consumers, China's industry and commerce regulator said. The State Administration of Industry and Commerce ...

HK's luxury site sold for US$1.5 bln, 2nd highest auction price

The Hong Kong government sold a luxury site near the downtown on Thursday, setting a record of the second highest price in the city's land auction history, though quite below former market estimates. The 10,500-square-meter site, locating on Borrett Road, attracted five ...

Biggest civil lawsuit looms

Shenzhen-listed Wuliangye Yibin Co faces possibly the biggest ever civil compensation lawsuit filed by investors in the history of the Chinese mainland stock market following a 600,000 yuan (US$92,593) fine imposed by China's top securities supervisor for illegal information ...

Rising food prices see cut in spending

Chinese bankcard holders trimmed their non-essential spending in May due to rising food prices caused by a drought that ravaged central and eastern China, an industry index showed on Thursday. The bankcard consumer confidence index dipped to 86.11 in May, down 0.28 point from a ...

China welfare lottery sales shoot up by 30%

China's welfare lottery sales hit 50.16 billion yuan (7.74 billion U.S. dollars) as of June 5 this year, up 30.61 percent year-on-year, the Welfare Lottery Distribution and Management Center said on Thursday. The center said that this year's welfare lottery sales are expected to ...

China to pass Japan as top luxury market in 2012

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, the World Luxury Association (WLA) said Thursday. The luxury goods sales value in the Chinese market, excluding private jets, ...

Baloney of house prices

Media reports that the prices of new homes in major Chinese cities are plummeting at double-digit rates amount to nothing more than bunkum and wishful thinking. Admittedly, shrinking sales of new apartments can be observed in most Chinese cities nowadays. But this is just a ...

Central bank rebuts report of 'canceling home purchase limit'

China's central bank on Wednesday said the media report that some "central bank researcher" forecast the cancellation of the home purchase limit within two years was factually incorrect. The report was carried by Wednesday's Oriental Morning Post, a Shanghai-based newspaper, ...

New home sales at highest in Shanghai

Shanghai's new home sales rose to the highest in four months last week while the average price was little changed. Sales of new homes, excluding those built under the city's affordable housing programs, jumped more than 27 percent to 238,500 square meters during the seven-day ...

Exaggerated property ads get hostile response

Exaggerated advertising claims for high-end properties targeting the super rich in China have come under widespread criticism for encouraging people to flaunt their wealth and for deliberately using misleading language. Property advertisements boasting of a luxurious and refined ...

Housing projects proceed too slow for govt

China will find it difficult to achieve its goal of building 10 million government-subsidized residences this year since most of the planned projects have not started yet, analysts said. In May, the Ministry of Housing and Urban-Rural Development began requiring local authorities ...

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 ...

PayPal to end partnership with Alibaba

EBay Inc's PayPal online payment system will end a partnership with Alibaba Group's Aliexpress.com beginning Aug 3, Shanghai Securities News reported Tuesday. Aliexpress.com, an international wholesale platform for China's domestic vendors to supply small orders to foreign buyers...

Pharmaceutical factory blamed for stench in air

A major drug maker in Northeast China stands accused of seriously polluting its environs and of violating regulations that set limits on discharges of pollutants, CCTV, the State broadcaster, reported on Sunday. The report said the pharmaceutical factory has not done enough since ...
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company

industry

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trade

sports

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