Wumart Stores, Inc. has announced that Hangzhou Tiantian Wumart Commerce Co., Ltd., a wholly owned subsidiary of the company, will acquire a 85% stake of Shaoxing Shangchao Investment Co., Ltd. for CNY151,177 million, giving Wumart indirect ownership of 54.09% of shares of Zhejiang Supply and Marketing Supermarket.

Chinese Internet company Baidu has announced that it has completed amendments to its e-commerce platform and will now accept up to 10,000 applications for beta testers.

Joseph Abboud, an apparel company from the USA, has announced plans to open its first store in China in autumn of 2008 and will open 15 stores across the country before the end of the year.

In the second half of 2008, Hart Schaffner Marx, one of the biggest suit makers in the U.S., will enter the Chinese market through Youngor's mature network.