Briefly

China Daily (Canada) - - SHANGHAI -

Shang­hai emerged top among 13 cities in the world in terms of the most num­ber of bookstores per 100,000 peo­ple, ac­cord­ing to a re­port from Shang­hai Nor­mal Univer­sity. The re­port, which aimed to de­ter­mine the amount of cul­tural ser­vices avail­able in a city, took into ac­count 19 fac­tors to eval­u­ate places in­clud­ing Lon­don, New York, Paris and Tokyo. The re­port also re­vealed that Shang­hai hosts the most cul­tural shows with a to­tal num­ber of 84,900 in 2014. In China, Shang­hai was found to be the city with the most cul­tural ser­vices per per­son to of­fer.

A to­tal of 490 units of lux­ury homes priced above 100,000 yuan per square me­ter were traded across Shang­hai as of the end of Novem­ber, equal­ing the com­bined to­tal in the last three years, ac­cord­ing to data from property agency Home­link. Ac­cord­ing to the China Se­cu­ri­ties Jour­nal, res­i­den­tial project Tom­son Riviera had set a new record when two apart­ments were sold at 252,000 yuan per sq m and 269,000 yuan per sq m in Novem­ber, with the to­tal traded amount hit­ting 150 mil­lion yuan and 160 mil­lion yuan re­spec­tively.

BTG Ho­tel (Group) Co Ltd an­nounced on Dec 7 that it will buy a 100 per­cent stake in Homeinns Ho­tel Group for 11 bil­lion yuan, ac­cord­ing to Reuters. Nasdaq- listed Homeinns will delist from the stock mar­ket to be­come a pri­vate-owned en­ter­prise fol­low­ing the deal, ac­cord­ing to the Shang­hai Stock Ex­change. Homeinns re­ported sales rev­enues of 6.68 bil­lion yuan in 2014, and it gen­er­ated 4.99 bil­lion yuan from Jan­uary to Septem­ber in 2015. BTG Ho­tel will run more than 3,000 ho­tels in over 300 cities across China fol­low­ing the deal, and the pur­chase is ex­pected to ef­fec­tively ex­pand its ho­tel chains and en­hance com­pet­i­tive­ness.

Google is likely to launch a version of the Play Store that is specif­i­cally set up for Chi­nese con­sumers by Fe­bru­ary next year, re­ported Reuters. Google en­tered China in 2005 but with­drew its search busi­ness from the world’s sec­ond largest econ­omy in 2010 due to reg­u­la­tory rea­sons. Ac­cord­ing to lo­cal news ser­vice thepaper. cn, Google had reg­is­tered a for­eign-in­vested en­ter­prise called Pengji In­for­ma­tion Tech­nol­ogy in the China (Shang­hai) Pi­lot Free Trade Zone on Christ­mas Day in 2014. Pengji, which deals with in­for­ma­tion and tech­nol­ogy de­vel­op­ment and com­puter sys­tem in­te­gra­tion, is re­port­edly a shell com­pany for Google that could play a part in its come­back in China.

The world’s sec­ond largest en­ergy drinks maker Mon­ster Corp is look­ing to en­ter the China mar­ket in 2016, rid­ing on the back of its dis­tri­bu­tion deal with share­holder Coca Cola, the Beijing Busi­ness To­day re­ported. How­ever, the com­pany’s en­try would be made dif­fi­cult be­cause its trade­mark and brand name have al­ready been reg­is­tered by a Shang­hai-based com­pany. Mon­ster’s main com­peti­tor Red Bull cur­rently com­mands about 80 per­cent of the mar­ket share in the Chi­nese en­ergy drink mar­ket.

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