To expand in the Chinese market, Italian fashion brand Sergio Rossi has announced plans to buy back five franchised stores in China from Kutu Trading, its cooperating partner in Shanghai.

Niu Gensheng, founder of Mengniu, has resigned his position as chairman of the board of directors.

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Chinese B2C e-commerce website 360buy.com has announced that it has launched a campaign starting from June 1, 2011, to return 3% of its sales of books to the original writers.

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