IN BRIEF (Page 14)
Updated: 2013-04-05 07:45
Apple will revamp its repair and warranty terms on the Chinese mainland. Provided to China Daily
Chastened Apple faces closer scrutiny
China's commerce market watchdogs have called for tightened supervision of Apple Inc's disputed warranty policy in response to customer complaints it has adopted different policies for repair and return services in China. The State Administration for Industry and Commerce said it has issued a notice asking local industry and commerce authorities to increase supervision of Apple's warranty policies.
Tim Cook, Apple's chief executive officer, in a statement on the company's Chinese website on April 1, vowed to revamp its repair and warranty terms and apologized for any misunderstandings stemming from poor communication with customers.
Boeing delivers 1,000th aircraft to China
Boeing has delivered its 1,000th aircraft to China, making the country its first market outside the US to pass that threshold.
The aircraft, a Next-Generation 737-800 with the Boeing Sky Interior painted in special peacock livery, will join China Eastern Yunnan Airlines.
China has become one of the most dynamic markets for commercial aircraft. Boeing forecasts the country will need 5,260 new aircraft, valued at about $670 billion (523 billion euros), over the next 20 years.
Nestle's fresh investment as world savors Pu'er coffee
Nestle SA, the world's largest food company by revenue, says it plans to increase its investment in Pu'er, Yunnan province, in an effort to increase its cultivation of oriental coffee.
A memorandum of understanding signed by Nestle and the Pu'er government, which includes building a Nestle Coffee Farming Institute, a warehousing and testing laboratory and a Nescafe Consumer Experience Center, aims to provide training and infrastructure for local farmers and promote the region's coffee production.
Lu Han, director of the Pu'er Coffee Industry Federation, says the agreement is an important step toward boosting Nestle's global sourcing because of the high quality and quantity of Pu'er coffee beans.
China Foods to buy wineries in Australia and US
China Foods Ltd, the Hong Kong-listed consumer food arm of Cofco, the country's largest state-owned food conglomerate, says it will buy two or three wineries in the US and Australia, in an effort to expand its wine sales while fending off competition from surging wine imports.
The acquisitions, aimed at well known local brands, will be worth at least $20 million (15.6 million euros) and are expected to be completed within the next two years, Luan Xiuju, the managing director of China Foods, said in Beijing.
Luan also said the company is in talks with two global leading wine dealers to become their exclusive brand representative and distributor in China.
Infant formula maker given NZ go-ahead
The infant formula giant Yashili International Holdings says it has received approval to become the latest Chinese player to invest in the New Zealand dairy industry. Zhang Lidian, the company chairman, said in a statement to the Hong Kong stock market that New Zealand's Overseas Investment Office has given consent to Yashili's plans to build a milk processing plant. The company reportedly plans to spend NZ$230 million ($194 million, 151 million euros) to build the plant south of Auckland.
Heilongjiang plans heavy investment in Russia
Northeast China's Heilongjiang province plans to increase investment in Russia by $1 billion (0.78 billion euros) by 2015, and $2 billion by 2020, local authorities said on March 31. The province that borders Russia will also beef up its trade with the country, vowing to increase the volume to $26 billion by 2015, and $52 billion by 2020, sources with the provincial commercial department said.
Heilongjiang accounts for about a quarter of China's trade with Russia. Trade between the province and Russia was worth $21.3 billion last year, 12.2 percent higher than in the previous year.
Glencore extends Xstrata deadline amid China talks
Glencore International PLC, the largest publicly traded commodities supplier, pushed back the deadline to complete its $32 billion (25 billion euros) takeover of Xstrata Plc for a fifth time because it has yet to secure approval from China. Talks with the country's regulator have been "constructive" and are in their final stages, Glencore said on April 2.
A decision is not expected before an April 16 deadline so the companies have agreed to extend the so-called long stop date for the acquisition to May 2.
Wal-Mart to open 30 new stores in China
The world's largest retailer by sales will open 30 new stores in China and spend nearly 500 million yuan ($80.1 million; 62.6 million euros) on remodeling existing ones in the country.
Wal-Mart Stores Inc told China Daily on April 1 that it will remodel 50 stores this year, following completion of remodeling at 31 stores last year.
The new openings in China this year are part of a plan announced in October for the company to have more than 100 new stores in the next three years.
(China Daily 04/05/2013 page14)