First and Largest Disney Store Opens in Shanghai
Disney Store has opened the doors of its flagship store in the popular Lujiazui area of Pudong, Shanghai, China. The landmark store is the largest retail space of any Disney Store in the world featuring 5000 square metres of immersive shopping experiences and innovative products, while also featuring an outdoor plaza.“We couldn't be more delighted to open our first Disney Store in China, in Shanghai,” said Mr. Paul Candland, President The Walt Disney Company, Asia-Pacific region. “Disney Store plays a critical role in how millions around the world experience our brand and allows kids, young adults and families to have a uniquely fun and immersive experience while shopping for their favourite Disney, Pixar, Marvel and Star Wars products,” he added. In a momentous week for The Walt Disney Company in China, the opening of the Disney Store in Shanghai comes one day after the topping of the Enchanted Storybook Castle at Shanghai Disney Resort, which is due to open next year. “We want to thank the people of Shanghai for welcoming us to the city and could think of no better way than to open the store,” said Mr. Candland. With an estimated 40 million tourists visiting the Lujiazui area each year, the Disney Store, with its unique product range and entertaining, immersive and innovative design elements, is set to become a world-class destination and meeting point among locals contributing to Shanghai's reputation as a family, business, cultural, entertainment and tourism destination.“We welcome the first Disney Store in China to Shanghai's Pudong District and are excited about the unique role it will play to bring a new energy to Lujiazui. The Disney store is a stunning…
Leading Chinese Sport Brands Form JV in E-commerce
361 Degrees International Limited, one of the leading sports brand enterprises in China, is pleased to announce that it is forming a joint venture company, 361 Degrees International E-commerce Limited with SmartMozo Limited.In line with this, Mr. Ding Wuhao, President and Executive Director of 361 Degrees and Mr. Giang Phung, Chief Executive Officer and Founder of SmartMozo attended a strategic partnership press conference in Xiamen to officiate the cooperation. Headquartered in Hong Kong, SmartMozo is the first “E-commerce 3.0” technology company in the Asia Pacific region that utilises the Online-to-Offline (O2O) approach built around a core of big data technologies and a foundation of precise positioning data. It provides quality products and services to the 20 trillion dollar global retail market. Prompted by a similar strategic vision on the development trends of areas such as the Internet, e-commerce and big data analysis, the two companies formed an international e-commerce joint venture to promote business expansion and internationalisation. Both parties will invest in form of cash, physical property, space, and system software, and 361 Degrees and SmartMozo will hold 70 percent and 30 percent stake in the joint venture, respectively. A leading independent third-party payment solutions company, 99 Bill, will provide a convenient and quick payment platform. This cross-sector alliance is set to create “the only international online sporting goods trading platform in China”. The partnership integrates both parties' competencies. 361 Degrees will fully leverage its strengths in commercial resources, brand equity, and offline resources, while SmartMozo will draw upon its expertise in information systems and Big Data. The two parties will be able to expand their businesses and…
China and Africa Explore Opportunities for Collaboration on Health Care for All
More than 350 health leaders from China and Africa — including government officials, academics, and representatives from the private sector and international organisations — convened in Beijing this week at the 5th International Roundtable on China-Africa Health Collaboration. The meeting explored how Chinese and African resources and experiences can be leveraged to mutually support greater health development. Today, meeting participants officially published the Beijing Policy Recommendations, a document outlining how intercontinental cooperation can be strengthened to drive sustainable impact, with a focus on the theme; “Contributing to Universal Health Coverage, Expanding Access to Essential Medicines”. Drawing on decades of joint health efforts, the Policy Recommendations called for deepened dialogue between Chinese, African and international stakeholders, increased investments in health, and alignment with African regional and national strategies. The Recommendations emphasised commitments to a variety of issues including universal health coverage (UHC) and access to safe, high-quality drugs and vaccines, as well as the need for improved government accountability through better monitoring and evaluation. “China and Africa have a long history of health cooperation going back more than 50 years. Our partnership with Africa is focused on mutually beneficial collaboration that meets the needs of African countries while also contributing to China’s health and development,” said Dr. Ren Minghui, Director General of the Department of International Cooperation at China’s National Health and Family Planning Commission (NHFPC). “China has a unique role to play in supporting Africa’s health progress, thanks to our advances in R&D and production of high-quality, low-cost medicines and vaccines. These lifesaving innovations have tremendous opportunity to make a…
Multimillion Minelab Investment Establishes State-of-the-Art Retail Facility in Dubai
Minelab has officially opened the Minelab MEA General Trading LLC facility in Dubai, representing a major strategic advancement for the ‘Gold’ division of its worldwide business. The significant US$2 million investment recognises Dubai as a key hub for its ‘Gold’ business into the Middle East and Africa. The move will enable Minelab to support the efforts of its dealership network, including its education-based anti-counterfeit strategy.Minelab has been committed to the artisanal small scale miners of Africa through its Dubai network of authorised dealers for a number of years. As a result of a boom in small scale mining activity and the significant success of genuine Minelab gold detection product, counterfeit manufacturers are known to target artisanal gold mining communities by illegally producing counterfeit mining products. The most recent finds of counterfeit products were in excess of US$10 million:• June 2013, counterfeit Minelab product with a potential market value of AED5.9 million (US $1.6 million) was seized from an apartment complex operating as a makeshift ‘factory’• August 2014, a record breaking seizure of counterfeit Minelab product with a potential market value of AED35.6 million (US $9.7 million) was conducted in AjmanA recent police operation in Dubai that led to a significant find of counterfeit Minelab equipment, reaffirms the organisation’s belief that Dubai is the best location for the new store and will help ensure the protection of customer interests by safeguarding the authenticity of Minelab products and brands.The new store in Dubai will act as a regional base and a well-connected transit hub for the movement of Minelab people and products across Africa, ensuring access and availability…
China’s Exports Rise 7.2%
China's exports trailed estimates in June, suggesting support for growth from global demand will be limited as leaders try to defend their economic-expansion goal of about 7.5 percent this year. Overseas shipments gained 7.2 percent from a year earlier, the customs administration said today in Beijing, compared with the 10.4 percent median estimate in a Bloomberg News survey of economists. Imports rose 5.5 percent, leaving a $31.6 billion trade surplus. Weaker-than-anticipated trade would compound threats to the world's second-largest economy from a property slump and rising debt, putting pressure on the Communist Party to consider stronger stimulus. International Monetary Fund Chief Christine Lagarde said this week that world investment spending remains lacklustre, signalling the institution will cut its global growth forecasts this month. Premier Li Keqiang said on the 7th July that while China's economic performance in the second quarter improved from the previous period, the nation can't lower its guard against downward pressure and will increase the strength of targeted measures. China won't adopt strong stimulus and can achieve annual goals of economic and social development for 2014, Li said at a press conference with German Chancellor Angela Merkel in Beijing. China's economy has shown signs of stabilisation after measures dubbed a "mini-stimulus" by some analysts. Factory-gate prices fell in June at the slowest pace in more than two years, according to government data released yesterday. Two gauges of manufacturing rose to the highest levels this year, reports showed on 1st July. China will release second-quarter gross domestic product data on 16th July. The economy…
China reports third quarter growth
China's gross domestic product expanded 7.8 percent year-on-year in July-September, the first rise in three quarters. Growth for the first nine months of the year came in at 7.7 percent, the National Bureau of Statistics added. The official figures also showed growth in industrial output, retail sales and fixed asset investment. "The overall national economy realised steady growth and enjoyed good momentum," the NBS said in a statement. "The major indicators stayed within the rational range, which was in favour of promoting economic restructuring and pushing forward reforms." Image: © Getty Copyright is owned by Asia Outlook and/or Outlook Publishing. All rights reserved.
Chinese inflation rises to 3.1%
Consumer prices in China rose by 3.1 percent in September, a seven-month high, fuelled mainly by a surge in food prices. The National Bureau of Statistics said that food prices rose 6.1 percent from a year ago due to the impact of national holidays, as well as droughts and floods in some regions. See the full data here. Image: © Getty Copyright is owned by Asia Outlook and/or Outlook Publishing. All rights reserved.
Cathay Pacific profits fall 83%
Hong Kong-based Cathay Pacific has announced profits have fallen 83 percent amid higher fuel costs and a drop in demand for corporate travel.
