Chinese beverage manufacturer Nongfu Spring has disclosed to the local media that it is likely to suffer a loss of CNY1 billion as a result of reports of arsenic in certain of its soft drinks.

Lianhua Supermarket has reported that its board of directors has approved the acquisition of Hualian Supermarket for CNY492 million.

Beijing-based supermarket and department store retailer Hualian has published its annual report for 2008, which states that its revenue increased by 16.43% to CNY8.618 billion in the period while its profits decreased by 47.49% to a mere CNY150 million.

Beijing Hualian Department Store Company has published a report which says that the company will issue CNY830 million in additional shares to its shareholder Beijing Hualian Group Investment Holding Company to acquire the group's five commercial real estate projects in Beijing and Jiangsu.

According to Wumart Stores' financial report for the first three quarters of 2008, the company made net profits of CNY409 million in this period , but the growth rate of its net profits in the third quarter decreased by 26% compared with that of the first half of 2008.

The British retail giant Tesco has set up a purchase center for Asian areas in Shanghai.