March 16 - Dairy Queen will open its fifth store in Guangzhou this month. The world's top ice cream retailer said it hopes to operate 400 stores by the end of this year in China, which has become its second largest market after North America.

March 16 - China had 194 million netizens who shopped online in 2011, including 64.65 million shoppers at deal-of-the-day sites, according to the China Internet Network Information Center.

March 14 - Tariffs account for only 5% of luxury goods prices in China, and it is the pricing strategy that makes luxury goods unreasonably expensive in the country, according to Lu Xiaoming, former Montblanc China chairman. A study shows luxury watches are 100% to 350% more expensive in China than overseas, cosmetics 40% to 120% costlier, jewelry 20% to 80% costlier and bags 30% costlier.

March 12 - Ikea, a Swedish home improvement products retailer, said it plans to increase the number of its malls in China from nine to 17 by 2015.

March 10 - China is very likely to cut taxes on imported luxury items this year to boost consumer spending, Wei Jianguo, a former deputy commerce minister, said on the sidelines of the National People's Congress, adding that some import tariff reductions implemented last year had not gone far enough and that China should redefine luxury goods.

March 9 - China's retail sales rose 14.7% year on year to ¥3.37 trillion in the first two months of 2012, the National Bureau of Statistics said.

$1 = ¥6.32

You are currently reading words of total words in this article.
To continue reading this article, you must be a subscriber. Log in now..

Finish this article for free.
@2017 China Economy @ China Perspective.
All Right Reserved.
Server SSL Certificate