Electronics retail giant Best Buy has announced the official opening of its Xinzhuang store in Shanghai.

According to the information from the headquarters of the Jiangsu-based Five Star Appliance, which was acquired by the American electronics giant Best Buy, the company has signed an agreement with Apple to become its first-tier distributor.

U.S.-based Best Buy has confirmed that it will appoint Yang Deming, president and COO for Best Buy Asia, as president of its newly acquired Jiangsu Five Star Appliance in China.

The U.S. electronics retailer Best Buy has published a report, which states Five Star Appliance, a Jiangsu-based Chinese electronics retailer, has now become a wholly foreign-owned company.

Suning's Shanghai headquarters has announced plans to open 20 new electronics stores in Shanghai in 2009, covering 12 districts including Minhang, Baoshan, Pudong New Area, Xuhui, Jing'an, Huangpu, and Fengxian.

According to reports in local media, the global electronics retailer Best Buy has started to sell its own brand LCD TVs in China for the first time and these TVs are only available in Best Buy stores.