Lotte Group's board of directors is scheduled to approve a land swap deal with the South Korean government at the end of February to facilitate the deployment of the Terminal High Altitude Area Defense (THAAD) anti-missile system, shrugging off Beijing's strong objection, reported the Global Times over the weekend, citing unnamed sources.
The efforts of McDonald's to sell its franchise right in China is likely to take a hit after a Chinese management consultancy lodged a complaint to Chinese regulator over concerns that the transaction may hurt the country's workers and consumers, a lawyer said on Monday.
US fast food giant McDonald's said on Monday that its decision of selling the franchise right of restaurants in China is a "win-win cooperation", in response to a Chinese management consultancy which warned that the transaction will hurt the interests of workers and consumers.
Getting local strategic investors involved in business development appears to have become a tactic of transnational fast food chains struggling to hold on to their territory in competitive China, as home-grown fast food restaurants are gaining ground. But it does not mean foreign brands have run out of ideas in the country.
After years of low-key operations in China, US home-rental company Airbnb recently announced the official entry into the world's most populous country, where the second-largest unicorn of the US will face a flurry of uncertainties.
US technology giant Google is ingratiating itself with the Chinese developers in a way that could be used to seek an opportunity to return to China, a market it left six years ago after defying the country's self-censorship rules.
The Shanghai branch of US-listed medical equipment maker Medtronic was recently handed a fine of 118.5 million yuan ($17 million) for monopolistic behavior by China’s top pricing regulator, the first such penalty for a foreign company in the medical device sector. Although international media generally interpreted the event as China’s effort to “use the law targeting foreign companies” to “help domestic champions”, Chinese regulators insist they are aiming to promote consumer welfare and…
One of the major Chinese shareholders of Carrefour China is to sell off its stake amid a “bleak winter” for foreign retailers in China. Although the French multinational soon announced a buy-back program for revitalizing its embattled China operation, it is obvious foreign retailers are under pressure to gain profits amid falling economic growth and rising competition.
Rumors about an exodus of Japanese enterprises from China have been circulating since January 2015 when media reports said that some giant Japanese manufacturers such as Panasonic and Daikin Industries were planning to move some of their home appliance production back to Japan from the world's second-largest economy due to a weaker yen and rising operating costs there.
The Qualcomm Communication Technologies (Shanghai) Co., a semiconductor test facility in the Waigaoqiao (WGQ) free-trade zone in Shanghai, was put into operation Tuesday, signaling Qualcomm’s first foray into manufacturing of semiconductors.
With China moving away from a manufacturing-based economy to a more innovation-driven one, some foreign companies doing business there are finding new ways to navigate in the populous nation, with some relocating their labor-intensive facilities from China to Southeast Asian countries characterized by cheaper labor forces.
Last week's promotion of Belinda Wong from president to CEO of Starbucks China has laid bare the US coffee chain's ambition to penetrate deeper into the world's biggest tea-drinking country.
US fast food giant Yum Brands, the owner of KFC and Pizza Hut, has stolen a march on McDonald's to find strategic investors for its China unit, which is set to be separated from the parent company as an independent firm which will start trading on the New York Stock Exchange in November.
Chinese regulators insist the Didi-Uber merger must go through anti-trust investigation although Didi's management previously claimed that due to both companies' unprofitable operations, anti-competitive review should not be applicable.
The rumor about a merger between Uber China and Didi Chuxing, two bitter rivals competing for China's ride-hailing market, has become a reality.
The Beijing-based ChemChina offered $46.4 billion for Syngenta, a Swiss agribusiness, on March 24, and has extended the offer deadline twice till mid-September. “The deal is expected to be completed by year-end,” the Chinese state-owned chemical company announced in a July press release, adding that uncertainties remain since the purchase has to be approved by regulators in China, Switzerland and the US.
Uber is going to great lengths to create more services in China amid cutthroat competition in the ride-hailing market where its bitter rival Didi Chuxing claims to hold a lion's share.
Luxury skincare brand Lancôme has provided a lesson for other multinationals aiming at the Chinese market that it would be wise to stay away from political sensitivities in the climate of rising tensions between the Chinese mainland and Hong Kong.
Next time you dine at a restaurant in Shanghai, be aware that the person you share the table with might be an anonymous Michelin Guide inspector who is assessing the quality of food, the entire menu and services offered by the restaurant.
Apple has joined the ranks of Alibaba and Tencent, the two largest Internet companies in China, to make a venture investment in the country's leading ride-hailing service Didi Chuxing, after the US technology giant saw a drop in both sales and profits last quarter.