China Nepstar Chain Drugstore has strengthened its management team with new appointments, naming Ian Wade as co-chief executive officer and William Weili Dai as the new chief financial officer.

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 Beijing-based supermarket chain Jingkelong has published its financial report for the first three quarters of 2008, which said that by September 2008, the company's net profits had increased by 36.8% to CNY121.1 million.

Ren Ren Le, the Shenzhen-based retail chain, has recently signed a contract with Huijing New City, Xiang'an District, Xiamen to open a new store in 2010.

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.