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Lion Group plans to build malls in big cities

A Parkson Retail Group Ltd shopping mall, owned by Malaysia's Lion Group, in Beijing. The group plans to open 10 to 12 new stores a year in China starting this year. Malaysia's Lion Group, a diversified conglomerate that controls Parkson Retail Group Ltd, said it plans to open as ...

Stores found guilty of price fraud

A number of retailers, including Shanghai Landmark Department Store, a Parkson store in Beijing and a Gome outlet in Wuhan, have been found guilty of price frauds by China's top economic planning agency. The shops were found cheating customers with "fictional" prices or by ...

HK's 1st land auction in 2011 reveals continuing housing boom

The Hong Kong government on Wednesday conducted its first land auction in fiscal year 2011 -- starting from April 1, 2011, selling a lot at the high end of estimated prices, which reveals the continuing hot atmosphere in the housing market. The around 1900-square-meter site, ...

China mulls rules to check profiteering in property sector

China's top price regulator is mulling new rules to fight profiteering in the commercial property sector, a Chinese official told Xinhua Wednesday. "We are studying costs, profits and prices in the property sector and plan to implement measures to check for profiteering," said Xu ...

McDonald's goes on hiring spree

McDonald's Corp will recruit 50,000 employees this year in China as it quickens its pace of expansion in the fastest-growing market for the world's biggest restaurant chain. Oak Brook, Illinois-based McDonald's now operates 1,300 restaurants and employs 70,000 employees in China ...

Hainan holiday costs soar

Tourists arrive at Haikou airport. Duty-free policies have boosted the demand for tourism in the island province of Hainan. [China Daily] The forthcoming Labor Day holiday and a duty-free policy that came into effect on April 20 have sent the cost of a holiday on the island ...

Tourism island may give home buyers a break

Haikou, the capital of South China's island province of Hainan, may become the first city to loosen restrictions on home ownership that were brought in to cool the housing market. The move is being mulled, in part, because tax revenue from the sale of residential property has ...

Efforts to regulate China's home market see some effects

China's State Council, the country's cabinet, said Tuesday that the efforts of local governments to regulate the real estate market had seen some preliminary results. "Speculative housing demands have been contained, and the sales volume of new and existing homes dropped month on ...

Harsh penalty on welfare house cheating

The governing capability of a govern-ment is put to the test when it comes to the question of whether social welfare housing can really benefit those in need. This is not to say that those who cheat are not to blame for the rampant fraud in applications for both low-rent housing ...

Wal-Mart gives online delivery a try

Wal-Mart Stores Inc has begun testing an online grocery delivery service in San Jose, California, a company spokesman said on Saturday. The world's biggest retailer had been rumored to be considering dipping its toe into online grocery delivery for the past few years. The ...

ZARA replies to Beijing quality control blacklist

Spanish retail giant ZARA said their garments sold in Beijing are in compliance with all Health and Safety requirements in China, replying to the Beijing Consumer Association (BCA)'s claim of its products failing a quality test. Two ZARA down jackets and one pair of ZARA casual ...

Vegetable price slump hurts Chinese farmers

The current vegetable price slump may offer temporary support in China's fight against soaring inflation, but it has also taken its toll on Chinese farmers. China's ministries of commerce and agriculture have moved to stabilize the vegetable market after plunging prices ...

China CYTS releases annual and quarterly reports

China CYTS Tours Holding Co. Ltd., a major travel service provider in the country, reported on Sunday a 4.53-percent year-on-year increase in 2010's net profit and a 23.9-percent year-on-year profit decrease in the first quarter of this year. Its net profit stood at 265 million ...

Metro chief plans to open more stores

Metro Cash & Carry International, the international self-service wholesale retailer based in Germany, is aiming to double the number of its Chinese outlets to 100 by 2015, a top executive said on Friday. "We want to expand first in the 35 cities in which we already have a ...

Realty fair may draw more developers

Nearly130 exhibitors, including leading Chinese developers such as China Vanke, Poly Real Estate and Gemdale, may showcase more than 200 real estate projects at an upcoming property fair in Shanghai, a four-day event held during the May Day holiday, its organizers said yesterday. ...

Property price guess

One year after China introduced measures to cool the property market, which were described by some as the most draconian in history, tentative signs of cooling are only to be expected. Latest statistics show that month-on-month prices for new homes declined in 12 of 70 Chinese ...

Hainan launches tax rebate program

Hainan, China's southernmost island province, launched a tax rebate program Wednesday as part of its efforts to build the island into a tourist and shopping attraction. Starting April 20, both tourists visiting the island and local residents will be able to purchase tax-free ...

Top brands fail to pass quality test

Many Chinese consumers favor foreign brands because of their international appeal and perceived higher quality. Now shoppers, and consumers worldwide, might have to think twice. In the latest quality control tests on garments sold in Beijing, several well-known brands were ...

Purchase restrictions set to be 'long-term' in Shanghai

Home-purchase restrictions in Shanghai are likely to be a long-term policy, a city housing official said yesterday. That was mainly due to inadequate supply as well as the continuing robust demand for homes, said Liu Haisheng, director of the Shanghai Municipal Housing Support ...

Fashionable buyers have rotten taste

Industry insiders said that China's buyers of luxury goods are young - and lack taste. According to research from the Hong Kong Institute of Fashion Buying, China's consumers of luxury and high fashion are between 20 and 50 years old. In contrast, luxury consumers in Japan are ...
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company

industry

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trade

sports

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