Parkson Retail Group, the chain department store brand of Malaysia's Lion Group, has announced that with the increase in consumer expenditure, the company will maintain its planned rate of expansion in the Chinese market at 15%.

The department store retailer Parkson China has signed a contract with Shimao Property Holdings Limited to enter Shaoxing Shimao Dear Town, a project developed by Shimao in Shaoxing, Zhejiang province.

Beijing-based department store chain Parkson Retail Group has published its financial report for the first half of 2009.

Department store retail group Parkson has announced that it plans to close two outlets in Beijing and Changsha, citing retail area and lack of sales.

In accordance with a recommendation from the Beijing government for traffic diversion during the 2008 Beijing Olympic Games, from July 20, 2008 to September 20, 2008, some large-scale department stores in Beijing will adjust their opening time to 10 am and their closing time will also be postponed accordingly.

Parkson Retail Group has announced that the group will acquire two department stores in mainland China for RMB240 million from its majority stockholder, Parkson Holdings Berhad, Malaysia.