Best Buy will sign a deal with the Flying Eagle group to locate its first store in Flying Eagle's Jiangshang building in Shanghai's Xuhui district, China Business News reports. The property is currently being renovated, and initial investment may reach 250 million yuan. Three months ago, when Best Buy set up an office in Shanghai, the company vice president said that there were no specific plans for stores, although according to plans from 2003, the company was to open its first store in Shanghai. Best Buy's Asian headquarters are in Shanghai, but the company currently does mostly corporate purchasing - up to US$900 million this year - and so does not compete directly with China's domestic electronics retailers. A Yolo spokesperson said that the rent on the plot Best Buy decided on was very high, and the first store may end up having much more symbolic meaning than real contribution to the company's bottom line. Link: http://dycj.ynet.com/article.jsp?oid=7976213