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Japan’s largest supermarket retailer Aeon plans to triple its stores in China over the next five years, the Economy Daily reported. It has 1,360 outlets in Japan, but only 35 in China. However, according to its chief representative in China, sales growth has stalled in Japan due to a declining and aging population. The company is looking to other Asian markets for expansion, which currently make up less than 5% of total revenues. Chinese vice premier Wu Yi predicted China was very likely to overtake Japan as the world’s No 2 goods consumer by 2010. Under WTO accession commitments, international retailers are allowed to do business in China without teaming up with a domestic partner. American retail giant Wal-Mart has 78 stores in China, while the world’s number two retailer, France's Carrefour, has 95.

By AMY CHEUNG
Japan’s largest supermarket retailer Aeon plans to triple its stores in China over the next five years, the Economy Daily reported. It has 1,360 outlets in Japan, but only 35 in China. However, according to its chief representative in China, sales growth has stalled in Japan due to a declining and aging population. The company is looking to other Asian markets for expansion, which currently make up less than 5% of total revenues. Chinese vice premier Wu Yi predicted China was very likely to overtake Japan as the world’s No 2 goods consumer by 2010. Under WTO accession commitments, international retailers are allowed to do business in China without teaming up with a domestic partner. American retail giant Wal-Mart has 78 stores in China, while the world’s number two retailer,  French Carrefour, has 95.

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Jetion Holdings – a solar power company in China – expects to rake in US$75 million through an initial public offering on London Stock Exchange’s Alternative Investment Market (AIM) board, the Shanghai Securities News reported. The company's chairman, who was the former CEO of the UK Atomic Energy Authority and chairman of British utility Viridian Group, declined to set a date for the offering.


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Jana Partners – a hedge fund managed by Barry Rosenstein – purchased a 30% stake in Shenyang Machine Tool, the China Business Herald reported. Jana came to a share transfer agreement with the northeast-based company’s largest shareholder – the State-Owned Assets Supervision and Administration Commission of Shenyang. The selling price was not revealed. The deal is still waiting for approval from the central government.

By AMY CHEUNG

Private enterprises in Jinjiang city, Fujian province, are under-represented on the country's capital markets. As Economic Information Daily reports, government officials are looking to encourage local firms to cash in on China's surging bourses


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