Chinese department store operator Wangfujing has opened a new shopping center in Chengdu, capital of Sichuan province.

Chinese electronics and home appliances retailer Suning has announced plans to open its first Laox store on the Chinese mainland in Nanjing, Jiangsu, in December 2011.

Hai Wentian, deputy general manager for Inter Ikea Centre Group China, has revealed to the local media that the group plans to invest over EUR1.4 billion to build new shopping center projects in China in the next five years, with planned project areas of about 510,000 square meters.

Chinese department store operator Rainbow has announced its performance results for the third quarter of 2011, stating that its operating revenue increased by 25.5% year-on-year to CNY2.877 billion and its net profit increased by 13.9% year-on-year to CNY113 million.

China's Haier Electronics Group announced that it will invest initial capital of USD15 million to set up a joint venture with Home Retail Group to develop department store retail business on the Chinese mainland under the brand of Argos.

According to Ding Hui, managing director for Inter Ikea Centre Group, the group has decided three shopping center projects in China with total investments of CNY10 billion, and it will further increase its investment in the marketplace by building its fourth project in Shanghai with CNY5 billion.