November 4 – Starwood Hotels & Resorts Worldwide Inc (NYSE: HOT) said it plans to open five hotels in China over the next five years. The company has opened seven hotels in China this year, bringing the total number in the country to 46. It plans to have 100 hotels in China by the end of 2012.
November 4 – Adidas AG said its revenue from the Greater China region rose 13% year on year to $481 million in Q3 2011. It was operating over 6,500 stores in the region as of the end of September.
November 3 – Caterpillar Inc (NYSE: CAT) will step up investment in China in the years to come, President and CFO Edward Rapp said. The US construction equipment manufacturer currently has 16 operational plants and nine plants under construction in the country.
November 3 – Gap Inc (NYSE: GPS) expects China to become a billion-dollar business in three to four years as it speeds up expansion there, Bloomberg reported, citing David Zoba, its senior vice president for global real estate. The largest US apparel chain, GAP has eight stores in China and aims to lift the number to 15, including its first shop in Hong Kong, by January 31, 2012. Gap plans to have 45 namesake stores in the country 12 months after that, Zoba said.
November 3 – Neumann, Volkswagen AG's top executive in China, dismissed recent concerns about pricing pressure in the country's slowing auto market, adding that the German auto maker continues to sell cars there as fast as it can make them, the Wall Street Journal reported. Neumann also revealed that VW is on track to meet its sales target of more than two million vehicles in China this year, up from 1.9 million in 2010.
November 2 – Bristol-Myers Squibb Co (NYSE: BMY) plans to launch four to five drugs in China during the next three years, BMS China President Peng Zhenke said. The New York-based pharmaceutical company offered just one new drug in China over the past decade.
November 1 – Toyota Motor Corp (NYSE: TM) said its sales in China were about 82,000 units in October and about 694,000 units in the first 10 months, up 32.5% and 7.8% year on year respectively.
November 1 – Siemens AG (NYSE: SI) opened a regional headquarters in Shanghai. The 35,000m2 facility for R&D and marketing cost ¥710 million and can accomodate 2,000 people.
$1 = ¥6.32