The Sichuan-based convenience store chain Wowo has received a USD10 million investment from the private equity firm ARC Investment Partners and the Chinese retailer is now preparing for listing on Nasdaq to become the first Sichuan retail company that is listed in the United States.

Beijing-based Wumart Stores — which has just announced plans to expand its business in East China — has decided to close one of its two stores in Shanghai.

According to statistics released from the 2008 Retailers Assembly held in Shanghai, over the past 30 years, the total retail sales of social consumer goods in Shanghai increased from CNY5.41 billion to CNY384.7 billion, an increase of about 70 times.

According reports from local media, Tiens Group has closed its only supermarket in Beijing — the outlet operated under the brand name of BannerStore.

According to Li Jiahui, president of Guangdong Sai Yi Convenience Stores, the company plans to increase the number of its 7-Eleven stores in Guangdong to 500 by the end of 2008 and the number will be further increased to 1,000 in three to five years.

Having reached its goal of opening in 317 cities around China, ITAT Group, one of the largest multi-brand apparel retailers in China, has opened its first Sunshine Store in Jiaxing, Zhejiang.