Chinese retail company China Resources Vanguard has announced its new expansion plan and said it will open 10 to 15 convenience stores in Xi'an before the end of this year.

Despite the global economic slowdown, U.S.-based Baskin-Robbins, one of the world's largest ice cream chains, has announced plans to open 20 new stores in Chinese cities such as Beijing, Shanghai, and Xi'an.

Construction recently commenced on Galleria, Chengdu's first upscale European upscale shopping mall.

Zhou Minghai has resigned from his position as president of Hong Kong-listed Intime Department Store and Chen Xiaodong, former COO and vice president of the company, has been appointed CEO and president of the group.

Bank of Beijing has opened its fifth branch out of Beijing in Hangzhou to offer help to small and medium size enterprises during the global financial crisis.

According to reports in local media, Chen Yaodong, president of Home Depot China, has resigned.