Electronics retailer Suning creates separate investment arm

Suning Commerce Group, one of China's largest electronics retailers, has unveiled plans to create a wholly separate investment arm.

Suning Investment Group will be based in Shanghai and housed in its own building, and is targeting total assets under management of 50 billion yuan ($7.7 billion) within five years.

Officials said Nanjing-based Suning is also setting up two other separate investment funds, worth 2 billion yuan, respectively, by the end of this year, to specialize in media, content production and other creative industries, and sports consumption and retailing.