Alibaba Launches E-commerce Stock Tracking Index

Alibaba Group Holding Ltd and its Ant Financial Services Group launched the CSI Taojin Big Data 100 Index, an e-commerce stock tracking index. Part of the company's efforts to become a full-fledged Internet financial services operator. Also, the company plans to launch MYbank online bank in June 2015, following the launch of rival Tencent Holdings Ltd's Internet bank WeBank in January 2015.

"UPDATE 1-Alibaba steps up China online finance network push with new index, bank", Reuters, April 09, 2015

L'Oreal Says China Sales Grew 7.7 Percent In 2014

L'Oreal reported sales in mainland China grew 7.7 percent to 14.3 billion yuan, or $2.31 billion, in 2014, compared with the previous year. According to the French cosmetics company, 2014 marked the 18th consecutive year of growth in the country, the second-largest cosmetics market in the world. L'Oreal China CEO Alexis Perakis-Valat said his company's growth in China was driven by increased investment in research and innovation, online sales growth, channel expansion, and the contribution of the MAGIC mask brand.

"L’Oreal sales rise by 7.7% in the Chinese mainland year-on-year", Global Times , March 31, 2015

Foreign Retailers Finding China A Hard Market To Crack, Report Shows

Foreign supermarket and hypermarket chains are struggling to cope with rapid changes in China's retail market, according to industry analysts. Still dealing with the effects of food safety scandals, Walmart said it plans to stop sales declines by increasing the number of its stores by more than 25 percent, upgrading existing stores, and launching a new online shopping app. Tesco's real estate venture failed, prompting the UK retailer to enter into a joint venture with local retail giant China Resources Enterprise. Local retailers also experienced negative growth since 2010, according to consulting firm OC&C, with competition from online retailers often cited as one of the biggest threats to brick-and-mortar operators.

"Foreign grocers struggle in fast-moving China retail market", Financial Times, April 29, 2015

Wal-Mart Says To Open 115 New Stores In China By 2017

Wal-Mart Stores Inc. said it plans to open 115 new stores in China by 2017. Speaking at a news conference in Beijing, Wal-Mart CEO Doug McMillon said the proposed expansion is part of the company's efforts to speed up growth in the country. Also, the company is closing some stores that are not performing as profitably as expected and is expanding its focus on the faster-growing online grocery market through its Yihaodian.com e-commerce site. Wal-Mart's expansion will include creating more than 30,000 jobs, as well as investing more than 370 million yuan to remodel more than 50 stores in 2015.

"Wal-Mart to build 115 new China stores by 2017 in push to offset slowing growth", Reuters, April 28, 2015