Swedish home supplies retailer Ikea has purchased a 300,000-square-meter area in the business district of Daxing, Beijing, via auction and the company plans to build a comprehensive shopping center there.

Hai Wentian, deputy general manager for Inter Ikea Centre Group China, has revealed to the local media that the group plans to invest over EUR1.4 billion to build new shopping center projects in China in the next five years, with planned project areas of about 510,000 square meters.

According to Ding Hui, managing director for Inter Ikea Centre Group, the group has decided three shopping center projects in China with total investments of CNY10 billion, and it will further increase its investment in the marketplace by building its fourth project in Shanghai with CNY5 billion.

According to reports in local media, following the launch of its Chinese headquarters in the Yangpu district of Shanghai in May 2009, the North European home supplies provider JYSK has decided to open its first Chinese store in the same city on April 8, 2010.

Chinese retail information solutions provider Changyi Technologies has set up a strategic partnership with the retail solutions provider Retalix, to provide more advanced information technology to Chinese retail enterprises.

The Sweden-headquartered furniture retailer Ikea has confirmed that it will open its second outlet in Beijing in Xihongmen, Daxing district.