Swedish home supplies retailer Ikea has purchased a 300,000-square-meter area in the business district of Daxing, Beijing, via auction and the company plans to build a comprehensive shopping center there.

Alipay, one of the largest independent third-party payment service providers in China, has formally reached an agreement with Marui Company, one of the oldest department stores in Japan.

The brand of the Sanlu Group, the Chinese dairy group which was involved in the melamine scandal, was recently sold at auction for CNY7.3 million.

Beijing Sanyuan Food Company has won the bidding for Sanlu with a bid of CNY616.5 million at the public auction of part of Sanlu's assets held by by Shijiazhuang Intermediate People's Court.

Hainan Airlines has launched a flagship online store on Chinese Internet auction website Taobao.com.