Electronics and home appliances retailer Suning and the home appliances maker Midea have reportedly signed a three-year strategic cooperating agreement, and the two parties will implement binding development over the next three years.

Chinese electronics and home appliances maker Midea has announced that it plans to invest CNY392 million to acquire a 32.5% stake in Egypt's Misr Air Conditioning Manufacturing Company (Miraco) from United Technologies Corporation.

According to general manager for Midea's sales company in Beijing Zhang Wenfeng, the Chinese home appliances maker plans to increase the number of its specialty stores in Beijing to over 100 by the end of July 2009.