American electronics retailer Best Buy has announced on its official website that it will close all of its nine stores on the Chinese mainland.

Shangri-La Hotels and Resorts has signed an agreement with Chongqing Guest House Company to manage a hotel in Chongqing that is scheduled to open in late 2011.

Ajisen (China) Holdings Limited, the noodle restaurant chain, has announced that it has launched a high-end restaurant brand named Wakayama in Hong Kong.

Inspired by a dramatic increase in sales in the Chinese market, the global electronics retailer Best Buy has announced that it plans to open ten to fifteen new stores in China in 2010.

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.