What's news
China Daily | Updated: 2014-04-18 07:21
Remy warns about impact of crackdown on spending
Remy Cointreau warned on Thursday that full-year operating profit would fall between 35 and 40 percent as a Chinese government crackdown on ostentatious spending hurts demand for premium cognac and shows no signs of abating. In November, the French spirits group had already warned that full-year operating profit would fall by at least 20 percent, citing conditions in China. "The trend did not improve in the fourth quarter in China", Remy said in a statement.
Fiscal revenue expands 9.3% in Q1: Finance Ministry
Photo
