Walmart is reported to be planning a recalibration of its physical retail presence in Beijing through the introduction of a new generation of smaller-format stores, signaling a strategic shift in response to the country’s rapidly evolving retail landscape. The step will mark a significant development as Walmart has, for some years, refrained from prioritizing the…
China’s large domestic market and commitment to high-standard opening-up continue to appeal strongly to international businesses. As highlighted at the 7th Qingdao Multinationals Summit, which kicked off on Tuesday in Qingdao, Shandong province, China will further boost domestic demand during the 15th Five-Year Plan (2026-30), creating substantial new opportunities for multinational companies around the world.…
Yum China Holdings is moving to take full ownership of the Pizza Hut brand on the Chinese mainland in a $1.2 billion deal, a strategic shift that would eliminate ongoing royalty payments to Yum Brands. The move gives the company direct control of one of its most profitable and fast-growing restaurant businesses. The transaction is…
Sam’s Club China has replaced its chairman following a regulatory interview with China’s top market regulator over food safety concerns, according to corporate filings. Walmart (China) Investment, the entity overseeing the warehouse club, or Sam’s Club, business in China, updated its registration on June 15, showing that Muk Sook Yee had stepped down as legal…
China’s Alipay unveiled an artificial intelligence-powered version of its app on Tuesday, launching a new assistant called “A Bao” as owner Ant Group seeks to transform one of the world’s largest digital platforms into an AI-first super app. The company said the new version has entered invitation-only testing and will be gradually rolled out to…
TIANJIN — Danish pharmaceutical giant Novo Nordisk announced Monday that it will inject an additional 200 million yuan (around $29.4 million) into its production base in North China’s Tianjin municipality, expanding drug production and ramping up assembly and manufacturing capacity of its related injection pens. Once completed, the expansion project will further lift the production…
A Sino-Pakistani joint venture tire manufacturer has debuted on the Pakistan Stock Exchange (PSX) in a move market participants described as the first listing by a Chinese-invested company on the country’s bourse and a milestone in the deepening integration of industrial and financial cooperation between the two nations. Service Long March Tyres Ltd — a…
Japanese companies will remain committed to the Chinese market over the long term as they expect the country’s market scale, growth prospects and business opportunities to outweigh fluctuations in bilateral ties, said executives and market watchers. They said Japanese investment in China is an integral part of global industrial specialization, with economic spillovers from these…
Walmart China, parent company of Sam’s Club China, said it will tighten controls after the country’s top regulator summoned Walmart unit over food safety issues. The retailer said it “fully acknowledges, deeply reflects upon, and sincerely accepts” the concerns raised by regulators, while apologizing to members for any inconvenience. The company added that it has…
An employee from Chaoyang Long March Tyre Co Ltd (second left) addresses staff queries at the manufacturing plant of Service Long March Tyres in Pakistan. [Photo provided to chinadaily.com.cn] A joint Sino-Pakistani tire manufacturer debuted on the Pakistan Stock Exchange, a move that market participants described as the first listing by a Chinese-invested company on the…