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Metro suspends future funding of electronics unit, directs focus on wholesale arm

Media Markt China, the electronic products chain owned by Germany's Media-Saturn Holdings and Foxconn Technology Group, may have to close unless a buyer is found for the money-losing business, according to retail experts.

Media-Saturn's parent company, Metro Group, said on Wednesday it was withdrawing any furt
FOOD authorities in central China's Henan Province yesterday ordered an investigation into a poultry company that reportedly bought sick and dead chicken from farms, then resold the sick ones to fast food restaurants such as KFC and McDonald's and processed the dead ones into animal feed.

The company, Doyoo Group, one of China's largest suppliers to KFC and McDonald's, said the company treated
Jack Ma, chairman and chief executive officer of e-commerce giant Alibaba Group Holding Ltd, said on Tuesday he will step down from the CEO post in May and stay on as chairman.

"I will resign as the chief executive officer on May 10, 2013, and will be fully devoted to the chairman job," the 48-year-old Internet veteran said in an e-mail sent to employees.

Ma said that as chairman he will fo
China's Internet user base will reach 800 million in 2015, according to China's Ministry of Industry and Information Technology (MIIT). As explained by MIIT minister Miao Wei, as the MIIT speeds up its "Broadband China" project and strengthens broadband construction in China, the number of Internet users in the country will continue to increase rapidly.
Aliyun and net.cn, two cloud computing internet service companies under China's largest internet company Alibaba Group, will be merged as a new company retaining the Aliyun name, reports Chinese IT news website ChinaByte.
CONSUMER confidence in Shanghai rose in 2012 from a year earlier on a recovering economy and better products provided in the city, a survey showed yesterday.

The Index of Consumer Sentiment rose to 70.12 last year from 68.89 in 2011, indicating more consumer confidence and better consuming experiences among local residents, according to Shanghai University of Finance and Economics.

A readin
irst time fines handed down to overseas firms for price fixing

The mainland on Friday joined an international crackdown on a price fixing conspiracy involving several suppliers of LCD screens, levying penalties of 353 million yuan ($56.6 million) on Samsung, LG and four Taiwan companies.

The settlement, though less punitive in the eyes of analysts, was considered a landmark move as it was t
The legislation passed by the US to avoid the "fiscal cliff" will benefit the Chinese economy in terms of boosting exports and reducing the devaluation risks of China's US debt holdings, but will bring imported inflationary pressure to China, experts said Thursday.

US President Barack Obama signed the "fiscal cliff" legislation into law Wednesday in Hawaii, after the Republican-led House of Re


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