Profit to double

Beijing Tourism Group, which owns many famous brands including Quanjude roast duck, plans to double its sales and profit within five years, as it tries to become an international brand.

Addressing the 10th anniversary of the company, Chairman Duan Qiang said its sales reached 19.3 billion yuan at the end of last year and profit hit 1.6 billion yuan.

Revenue up

Henkel, a German consumer product and adhesives manufacturer, yesterday said the company's 2007 revenue in China amounted to 3.2 billion yuan up 22 percent from a year earlier.

"Henkel is highly committed to the China market," said Faruk Avig, Henkel's China president, at a media briefing.

Pizza brand

The world's largest restaurant group Yum! Restaurant yesterday launched a new brand, "Pizza Express", in Shanghai, targeted at customers who need quicker and low-priced food. The average price is around 30 yuan per person.

Investment consulting

Shanghai Pudong Development Bank yesterday set up an investment consulting team with experts from 12 of China's major fund management companies, including China AMC, HSBS Jintrust, China Southern, Fullgoal, Fortis Haitong, Guangfa and Hua An. It is the first and the largest mutual fund experts consulting team in China to provide investment suggestions and publish guidelines regularly.

Games insurance

PICC yesterday signed a vehicle insurance policy with the Beijing Organizing Committee for the Games of the XXIX Olympiad, covering over 7,000 vehicles for the Games. Besides the usual clauses, the policy includes some special coverage such as terrorist attacks.

China Daily

(China Daily 02/29/2008 page14)