October 19 – Apple Inc (NYSE: AAPL) said China has become its second largest market as the company opened an online store last year and six retail outlets in the past three years in the country, Bloomberg reported, citing CEO Tim Cook. Revenue from China accounted for 16% of total in its latest quarter, or $4.5 billion.
October 17 – German companies doing business in China will not cut recruitment plans and will raise salaries 10% next year, according to a survey by the German Chamber of Commerce's China branch.
October 17 – Georg Fischer, a Swiss manufacturer of piping systems for water treatment and corrosion fluids, plans to invest ¥2 billion in China over the next five years to boost its revenue from the country to ¥7 billion by 2015, up from ¥3.2 billion in 2010, CEO Yves Serra said. The company has so far invested ¥1.8 billion in China.
October 17 – US private equity firm the Carlyle Group has taken an 80% stake in China's largest provider of digital cinema server, Hong Kong-based GDC Technology, to cash in on the explosive growth of the Chinese market, the Financial Times reported. China has about 7,000 commercial cinema screens, or around one-seventh the number in the US, but it is adding an average of three screens a day, the fastest growth rate anywhere in the world.
October 12 – Nike Inc (NYSE: NKE) will ramp up investment in China and aims to double its revenue from the country to $4 billion annually by 2015, said president Charlie Denson.
$1 = ¥6.38
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