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.

The official website of China's Ministry of Commerce reports that the international retail giant Wal-Mart has set up a new wholly-owned subsidiary in Hebei.

Ramen restaurant chain Ajisen has published its financial report for the first half of 2009 and states that its net profit for the half was up by 12.1%.

French-based Sofitel has announced that it has signed three new contracts for hotels in the eastern and southeastern regions of China. These new Sofitel properties are already under construction and are scheduled to begin opening from the end of 2010.

Wal-Mart China is said to have begun a program to optimize the structure of its middle level management.

Convenience Retail Asia, a member of the Li & Fung Retailing Group, has announced that the company will acquire an additional 25% equity interest of Convenience Retail Southern China for CNY15 million, increasing its holdings of Convenience Retail Southern China from the current 73.5% to 98.5%.