Yum Brands Reports Better than Expected Earnings in the Run-up to its Chinese Spin-off

Yum Brands Inc, which is preparing to spin off its Chinese operations this year, reported fourth-quarter earnings that topped estimates, helped by sales increases at its Taco Bell and KFC chains. Excluding some items, profit was 68 cents a share in the period, the Louisville, Kentucky-based company said in a statement on Wednesday. Analysts had

Walmart and China Resources Agree to Part Ways

Wal-Mart Stores Inc on Wednesday [18 November 2015] signed an agreement with China Resources SZITIC Investment Co Ltd for the purchase of minority interests in 21 joint ventures. The deal is valued at 3.3 billion yuan ($520 million). This agreement is, however, subject to approval from the relevant government authorities…Full Article: China Daily Nov 2015

China’s Legislative Body Revamps the Country’s Food Safety Laws

The Standing Committee of China’s National People’s Congress (NPC), the country’s top legislature, adopted an amendment to the 2009 Food Safety Law on Friday [24 April 2015] with the heaviest penalties yet for offenders. With 154 articles, compared with 104 in the original law, the revamped Food Safety Law adds new articles and provisions on

Hong Kong’s Dairy Farm International Purchases a 20% Stake in Fuzhou’s Yonghui Superstores

Yonghui Superstores Co Ltd, the Fuzhou-based supermarket chain and one of China’s Fortune 500 companies, has completed the sale of 5.7 billion yuan ($912 million) worth of shares, around 20 percent, to Dairy Farm International Holdings Ltd to fund various expansions including the setting up of an e-commerce platform. It is the second time Yonghui

Washington-based Wholesaler Costco Enters the Chinese Market

Costco Wholesale COST -0.61% Corp., the largest U.S. warehouse-club chain, is entering China for the very first time. The Issaquah, Washington-based company has opened a store on T-Mall, an online marketplace Chinese e-commerce giant Alibaba operates alongside the Taobao bazaar. The store, where consumers can buy Costco baby care goods, beauty items, dietary supplement as

Alibaba May Team Up with a Real Estate Company to Develop Agricultural E-Commerce in Northeastern China

Chinese farmers are eagerly anticipating support from domestic e-commerce giant Alibaba after it pledged to reinvest funds from its record initial public offering (IPO) into supporting them to sell their products online. The company, which has made a fortune from Taobao.com, its e-commerce platform connecting small businesses with millions of online buyers, set a world

Beijing’s Chaoyang and Shunyi Districts Play Host to High-End Retail Supermarkets

Before she opened her first store in 1994, Wang Jianying sold fruit and vegetables from a market stall in Beijing. Now, 20 years later, the 44-year-old Henan province native is the owner of Jenny Wang’s, one of Beijing’s most popular supermarket chains for expats. She was also a co-founder of the Jenny Lou’s chain, but

Shanghai-based Private Equity Firm Invests in Online Fruit Vendor

Leading Chinese fresh fruit online seller Fruitday.com completed a new round of financing led by ClearVue Partners to expand its business, the private equity firm said on Wednesday [26 March 2014]. The total financing amount this round was tens of millions of dollars, according to the statement…Full Article: China Daily Mar 2014 Key point In

Walmart to Reimburse Chinese Customers who Purchased Fox-Tainted Donkey Meat

Global retail giant Wal-Mart Stores has recalled a donkey meat product from some Chinese stores after tests found traces of other animals’ DNA, the company said today, after authorities said it contained fox meat…Full Article: The Times of India Jan 2014 Key point Under Chinese food and safety laws, companies are not required to independently