Statistics released by Beijing Statistics Bureau show that retail sales in the Chinese capital increased by 15.1% year-on-year to CNY96.77 billion in the first two months of 2010.

According to Beijing Statistics Bureau, as a result of stimulation by a series of domestic demand expanding and consumption promoting measures, Beijing's retail sales in the first quarter of 2009 reached CNY122.12 billion, an increase of 12.6% compared with the same period of last year.

The South Korean Lotte Group has signed a contract with Weihai Jiulong Real Estate to open a new Lotte Mart in the Weihai Economic and Technical Development Zone in Shandong.

Japanese retail giant Takashimaya and Gubei Group, a subsidiary of China Enterprise, have jointly announced that Takashimaya will open a new department store in Gubei, Shanghai.

Following the precept of Sir Jack Cohen, the founder of British retail colossus Tesco, Wal-Mart has announced massive price cuts for essential items in more than 100 of its retailing stores across China.

On the heels of concerns over product quality and melamine in Chinese milk, Nestle has opened a new research and development center in Beijing, which will focus on both basic research and product development.