Asia - Europe Business

China-France Friendship

At the occasion of the 2010 Shanghai World Expo, French President Nicolas Sarkozy will come to China for a State visit at the end of April. President Sarkozy expressed his enthusiasm for this visit to China during the Chinese Spring Festival Reception in Paris in February.

 

China Daily, China’s most authoritative English media, supported by the Embassy of France in China and by the French Chamber of Commerce and Industry (CCIFC), will publish a China-France special report in May during President Nicolas Sarkozy’s visit to China.

 

In the last 46 years, China and France have developed excellent bilateral relations, highlighted by an enhanced mutual political trust, a fruitful trade and economic cooperation, flourishing cultural and sports exchanges and a close cooperation on international affairs.

 

Lisa

 

Carrefour China Sales Climb 16% in 2009

Carrefour's China sales rose 16% year-on-year in 2009, cited by Carrefour China President Eric Legros. Carrefour opened 22 new stores in China last year, bringing its total number of stores in China to 157.

The company aims to expand its Shanghai stores to 30 as soon as possible. Carrefour's new openings will favor the city's more rural areas, since Shanghai is the company's core city in China, but its downtown area is basically saturated.

Carrefour CEO Lars Olofsson said that the retailer planned to open 20-25 stores per year in China over the next five years.

Lisa

Carrefour to Launch Mobile Services in Taiwan

Supermarket group Carrefour plans to launch mobile services in Taiwan as an MVNO. The company will offer services through its subsidiary Carrefour Telecommunications using Chunghwa Telecom's network, the Taipei Times writes. During a promotional period, the company will offer customers to earn points at its Carrefour stores which can be redeemed for call credit. Carrefour also offer telecommunications services in several European countries.

Lisa

Lessons from a Global Retailer: An Interview with the President of Carrefour China

Jean-Luc Chéreau discusses the French company's experiences as its hypermarkets spread out from China’s biggest cities to the vast hinterland. An interview is realised by Peter N. Childis who is a director in McKinsey's Paris office.

Téléchargement lessons_from_a_global_retailer_carrefour_in_china.pdf

Lisa

France Telecom To Help China Develop IPTV And Mobile TV

France Telecom recently said at a panel discussion that it will provide mobile TV and IPTV assistance to Chinese telecom operators. According to France Telecom, the operator will share its experience in the mobile TV and IPTV fields with its Chinese counterparts. France Telecom officially established an R&D center in Beijing's Zhongguancun high tech area in November 2004.

Lisa

TCL Sells Two Subsidiaries to France's Legrand

TCL Group (000100.SZ) announced on Saturday that the company has signed an agreement with French company Legrand to sell its stakes in two of its subsidiaries. Legrand will acquire TCL International Electrical and TCL Building Technology from TCL Group for 1.457 billion Yuan and 234 million Yuan, respectively. TCL Group previously held 80 percent stakes in both companies. Both deals will close on December 30, said the report. TCL said that the two companies will continue to use the TCL brand and that neither company will lay off employees. TCL said in its announcement that it plans to continue disposing of non-core businesses to focus on home appliances, handsets and PCs.

Lisa

Sichuan Shuangma Cement Confirms Parent Sale to Lafarge

Sichuan Shuangma Cement (Shenzhen SE 000935) has announced that Lafarge China will acquire its parent, Shuangma Investment Group, for RMB304.84m. In a statement filed to the Shenzhen Stock Exchange, the company said Lafarge is buying the firm from the Mianyang municipal government, which has an 89.72% stake, and the group's labour union which holds the rest. Shuangma Investment Group holds a 66.5% stake in Shenzhen-listed Sichuan Shuangma Cement.

Lafarge China had total assets of RMB2.87bn at the end of last year, Lafarge being the world's biggest cement maker, and its Chinese joint venture, Lafarge Shui On Cement (with Shui On Construction and Materials Limited) being top cement producer in southwest China. Lafarge Shui On Cement has a 90.19% stake in Lafarge China.

Lisa

Carrefour looking to acquire Nextmart

Carrefour has announced plans to invest US$200 million in purchasing China's Nextmart. The move reveals the intensifying competition in China’s food retailing and supermarket sector as more foreign entrants come into the PRC and local retailers upgrade their stores in response. If completed, this would be Carrefour’s first acquisition since it entered the Chinese market a decade ago.

Carrefour, which now operates 28 supermarkets across China, will open eight more later this year.

Lisa