Don't have an account yet? Get FREE 7-Day Trial
August 10 – H&M, a Swedish casual wear retailer, opened two outlets in Fujian province. It was operating over 100 outlets in China as of the end of July, including 16 in Shanghai and 12 in Beijing and Hong Kong each.
http://www.linkshop.com.cn/web/archives/2012/220781.shtml
August 9 – The China Household Electrical Appliances Association said it will offer up to 10% rebates to buyers of appliances and kitchen utensils in 40 days starting August 10. The association and its member appliance makers will decide if they will extend the program depending on market responses. Among the participating chains are Gome Electrical Appliances Holding Ltd (HKG: 0493), China's second largest chain store by revenue, Dazhong Electronics and Yolo.
http://cn.reuters.com/article/chinaNews/idCNCNE87806D20120809
August 9 – China's retail sales rose 13.1% year on year to ¥1.63 trillion in July, according to the National Bureau of Statistics. Between January and July, retail sales were up 14.2% to ¥11.45 trillion.
http://www.stats.gov.cn/tjfx/jdfx/t20120809_402826324.htm
August 8 – Suning Appliance Co (SHE: 002024), China's largest chain store by revenue, will step up opening Laox malls, a Japanese electronics retailer it acquired in 2010, in China in 2H 2012, chairman Zhang Jindong said. Suning plans to operate 18 Laox malls across 10 Chinese cities by the end of this year. Over 30% of its goods will be imported.
http://www.linkshop.com.cn/web/archives/2012/220444.shtml
August 6 – China's household expenditure averaged ¥38,000 in 2011, up ¥5,710 from 2010, according to a report released by Peking University. The increase in spending on food was ¥2,287 last year, representing 40% of the total increase of ¥5,710.
http://economy.caijing.com.cn/2012-08-06/111992373.html
August 2 – Over 42 million smartphones were shipped to China in Q2 2012, accounting for 27% of the global total, according to Canalys Research. The volume was up 199% year on year and 32% quarter on quarter.
http://tech.qq.com/a/20120802/000176.htm
$1 = ¥6.36
@2011 China Economy @ The China Perspective.
HOME
