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Foreign top shops flock to Beijing

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10 February 2010
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Foreign top shops flock to Beijing

Customers line up to pay for goods at a supermarket in Beijing. The city's retail business is increasing as Spring Festival approaches. [Mirror Evening News] 

Another wave of high-end international stores will set up shop in Beijing this year as the capital continues its campaign to become one of the world's top cities.

 

Beijing aimed to introduce six more elite retailers and 40 percent of the world's luxury brands will have a presence in the city, a senior commerce official said.

Among 280 first-class international retailers, 101 are already in Beijing and more are on the way.

"Beijing is the most open city on the Chinese mainland when it comes to the retail industry," said Lu Yan, director of Beijing municipal commission of commerce.

The move is being seen as part of the city's ambitious plan to make it into what the mayor has described as a "world city". The aspiration gathered momentum when Forbes magazine ranked it as one of the 15 worlds' shopping capitals. It was also ranked one of the eight world's best cities to eat well.

Beijing's total retail sales in consumer goods reached 531 billion yuan in 2009, up 15.7 percent on a year earlier.

Chaoyang district and Haidian district were the areas where most of the money was spent, with both seeing retail sales of more than 100 billion yuan.

"Consumption has played a dominant role in driving the capital's economic recovery, which contributed a lot to Beijing's GDP growth last year," Cheng Hong, Beijing's vice-mayor, said at a work conference yesterday.

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China Eastern Airlines in search for new investors

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09 February 2010
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China Eastern Airlines in search
for new investors

Observers regard Singapore Airlines as an appropriate candidate to be a strategic investor of China Eastern Airlines.

China Eastern Airlines, the nation's second largest carrier by fleet size, said it has rolled out the red carpet for potential strategic investors after completing a merger with former local rival Shanghai Airlines.

The restructuring between China Eastern and Shanghai Airlines was officially wrapped up yesterday for a total of more than 150 billion yuan. The consolidated new carrier has a fleet size of 331 aircraft and will operate flights to 151 cities across the world, including New York, Los Angeles, Paris and Frankfurt.

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Gold tiger sculptures on sale

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05 February 2010
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Gold tiger sculptures on sale

A tiny gold tiger sculpture is displayed in a jewelry shop Wednesday in Yinchuan in Northwest China's Ningxia Hui autonomous region. The pure gold pieces each weigh between 36 grams and 66 grams. They are on sale for 333 yuan per gram. The coming Chinese New Year is the Year of the Tiger.

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'Low carbon' Shanghai Expo set to sparkle

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05 February 2010
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'Low carbon' Expo set to sparkle

A photo taken on Feb 3, 2010, shows the Expo Axis decorated with LED lights. The Shanghai 2010 World Expo will boast the largest solar-photovoltaic solution system in China, with 80 percent of the lighting at night generated by LED lights. Electric cars, super-capacitor cars and hydrogen cars will be in use during the Expo to save fuel costs and cause less pollution. These measures will offset carbon emissions during the Expo by an estimated 60 percent to 70 percent.

Read more: 'Low carbon' Shanghai Expo set to sparkle

Welcome home, Tai Shan

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05 February 2010
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Welcome home, Tai Shan

Trainers feed giant panda Tai Shan as he waits to be loaded onto a cargo plane and shipped back to China, Thursday, Feb. 4, 2010, at the National Zoo in Washington.

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More Articles …

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  4. Wanted: Chinese teacher and boyfriend for US-born panda
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Banking

  • China's Gold VAT trade reform aims to tax free for investment
  • China's digital RMB transactions top 14.2 trillion yuan
  • Renminbi asset appeal spurs dim sum bond market
  • UnionPay International Expands European Footprint with Strategic Partnerships and Enhanced Payment Network
  • China T-bond move seen safeguarding financial stability

Business China

  • Inbound Tourism Poised as Next Growth Engine for China's Service Sector
  • China sees 11.279m cross-border trips during the Labor's Day Holiday
  • Spring Festival Returns Ignite Service Consumption in Small Cities: Leisure and Entertainment Orders Up Nearly 30%
  • China's Auto Output and Sales Hit New Highs in 2025
  • China's record-breaking 45-trillion-yuan foreign trade volume in 2025

Real Estate

  • 21 Chinese cities tighten Real Estate Policy
  • LANZHOU NEW AREA new ghost town in China
  • Chinese invest $110 billion in US real estate
  • China's listed real estate companies post $461b of inventories for 2015
  • Beijing eases restrictions on foreigners buying apartments

Manufacturing

  • China to Build Seamless Asteroid Monitoring Network Covering Solar Blind Spots
  • Solar thermal power station in Jilin sets pace for cold climates
  • China-made C919 transports 5 million passengers in past 3 years
  • China's large drone FP-985 completes pioneering plateau logistics flight
  • China's NEV output tops 16 million units as exports double

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