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February 27 – Starwood Hotels & Resorts Worldwide Inc (NYSE: HOT) said it plans to open 12 Sheraton hotels in China in 2012 and increase the number to 80 by the end of 2015.
http://www.linkshop.com.cn/web/archives/2012/197348.shtml
February 27 – NBCUniversal, a media and entertainment unit of Comcast Corp (NASDAQ: CMCSA), a US provider of video, Internet and phone services, has reached a preliminary agreement with Tianjin, a provincial-level city near Beijing, to build a theme park there, according to a member of a Chinese trade delegation to Los Angeles.
http://cn.reuters.com/article/chinaNews/idCNCNE81Q04P20120227
February 24 – Coach Inc (NYSE: COH, HKG: 6388) closed its store at Tmall.com, a leading Chinese B2C portal, after two months of operations. Industry watchers say Coach launched the store at Tmall to collect consumer information to help it build its own B2C platform later in the country.
http://www.linkshop.com.cn/web/archives/2012/196868.shtml
February 24 –Ford Motor Co (NYSE: F) opened its fourth passenger vehicle assembly plant in China in a bid to overcome strong competition in a slowing vehicle market, the Wall Street Journal reported. The new $490 million factory in Chongqing will initially produce 150,000 Focus compact models per year, taking Ford's annual capacity in China to 600,000 vehicles, and Ford's global capacity in "C-segment" vehicles – the class to which the Focus belongs – to two million.
http://online.wsj.com/article/SB10001424052970203960804577242740048559280.html
February 24 – Michael Kors Holdings Ltd (NYSE: KORS), a US clothing and accessory retailer, said it plans to open its first store in China and operate 15 stores there by the end of 2012 and 100 stores in five years.
http://www.linkshop.com.cn/web/archives/2012/196987.shtml
February 23 – A Shanghai court rejected a request by Proview, a Shenzhen-based electronics maker, to suspend sales, imports and exports of Apple Inc's (NASDAQ: APPL) iPad in China. The two sides have been embroiled in a lengthy legal dispute involving use of the iPad trademark, which Apple claims to have purchased from Proview for $55,000 several years ago. Proview also has filed a lawsuit to a US court, claiming Apple had used fraud to purchase the iPad trademark and should be banned from keeping it.
http://cn.reuters.com/article/chinaNews/idCNCNE81M0B020120223
February 23 – BP PLC (NYSE: BP) said its chemical division plans to work with Sinopec Corp (NYSE: SNP, SHA: 600028, HKG: 0386) and South Korea's SK Global Chemical to invest a total of ¥7 billion building a chemical plant in Chongqing, which is expected to kick off production by 2015.
http://www.yicai.com/news/2012/02/1450945.html
February 22 – Dell Inc (NASDAQ: DELL) said its revenue from the Greater China region grew 15% in Q4 2011, and grew 20% in the whole of 2011, without revealing exact numbers.
http://tech.qq.com/a/20120222/000298.htm
February 22 – Mazda Motor Corp expects its sales volume in China to grow 26% to 270,000 units in 2012. It also plans to increase its existing network of 365 dealerships by 15% this year.
http://www.eeo.com.cn/2012/0222/221212.shtml
$1 = ¥6.3
@2011 China Economy @ The China Perspective.
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