Chain retailers saw fast growth last year, with mergers and acquisitions helping major players to consolidate their positions.
Shanghai's main stock index came sharply off the day's highs yesterday to close slightly higher, underperforming foreign markets because of concern about slowing economic growth and huge supplies of fresh equity.
Shanghai's real estate agents are keeping prices high despite talk of a property slowdown that's stifling homebuyer enthusiasm.
Hong Kong stocks rose yesterday, buoyed by property plays, but trade was volatile as a slide in Shanghai and $19 billion in new writedowns for Swiss bank UBS rattled investors.
China has rewritten both the theory and history of economic development. In just 30 years, it has gone from the brink of economic collapse to the cusp of a newfound prosperity.
Hong Kong stocks fell 1.88 percent yesterday to post their worst quarterly performance in more than six years, as investors took to the sidelines on lingering concerns about the global credit crunch.
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Raymond Zhou
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Berlin Fang
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Huang Xiangyang
Chen Weihua
