NEWSROUNDUP
by the end of the first quarter of this year, the first time that 7-Eleven is entering the Company Limited is terminating its own
taking its total up to 140. It opened 19 Shanghai market and it reportedly plans B2B online sourcing website
Tootoo.com.
stores in 2008 on top of the 30 it opened to open 100 outlets there within the next Ninetowns says the discontinuation of
in 2007. three years. the B2B business is not expected to have
Carrefour said it would “keep the same - China Daily a material financial impact on Ninetowns’
speed” of opening new stores this year. other business solutions.
Tootoo.com
The French hypermarket chain that first IT was originally developed as a B2B search
came to China in 1995 opened 23 stores and service provider for suppliers and buy-
last year and now has a total of 135 out- Chinese B2B site
Tootoo.com ers engaged in international trade and was
lets. 7-Eleven, the world’s largest conve- closes not fully commercialized as of the end of
nience store chain, will open three to four Chinese e-commerce giant
Alibaba.com 2008.
stores concurrently in Shanghai at the end has one less competitor to worry about
of March or the beginning of April. It is as Ninetowns Internet Technology Group
360buy.com launches logistics
unit
360buy.com, a Chinese retail e-com-
merce business company announced
that it established a logistics subsidiary
in Shanghai to improve distribution quality
and efficiency.
360buy.com invested RMB
20 million in the logistics subsidiary, which
will distribute orders in eastern China and
Shanghai, areas that account for 40% of
the company’s total orders. To enhance
its distribution network, which covers 200
Chinese cities, the company is also build-
ing 20 distribution stations in cities such
as Tianjin, Wuhan, Jinan, Xian and Chongq-
ing.
from the Chinese Media Compiled by Carl Pan
China Logistics Corp invests CHINT and Schneider Electric
500 million RMB in Urumqi solve patent infringement suit
Logistics Zone Yiling Li/Hao Yang,
Xiaoling Li, Xinhua Net 21 Century Business Herald
China Logistics Corp is planning to in- Low-voltage electric power leaders final-
vest 500 million RMB in the Urumqi Eco- ly agreed to solve their patent infringement
nomic & Technological Development Zone dispute peacefully out of court. Accord-
to set up a logistics park. According to the ing to the agreement, Schneider Electric
plan, the 500 investment will take up 118 Low Voltage (Tianjin) Co., Ltd. (SELV) will
with fixed assets valued at over 280 mil- compensate CHINT 157.5 million RBM
lion RMB. The expected revenue will reach while CHINT will cease to pursue all cases
1.2 billion RMB after the completion of the against Schneider Electric in regard of In-
first phase, and the whole investment is tellectual Property infringement. CHINT is
expected to generate 3 billion in revenue a leading Chinese player in the low voltage
Mr. Cunhui Nan, Chairman of the
when the entire park is in operation. electrical power industry.
Board & Chief Executive Officer of
CHINT Group.
www.chainaonline.com MAY/JUNE 2009 27
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