Singapore-listed Sheng Siong Group has signed a conditional joint-venture (JV) agreement with Kunming LuChen Group Co Ltd to operate supermarkets in China.
Under the conditional agreement, the proposed JV company will be incorporated under the laws of China with a registered capital of USD10 million.
French car giant Peugeot has agreed a new joint venture to manufacture light commercial vehicles and cars in China.
Peugeot has signed an initial agreement with domestic carmaker China Changan Automotive Group. If it goes ahead, the deal will give Peugeot a bigger foothold in the fast-growing Chinese car market.
China’s JD.com Inc has partnered Gap Inc to sell the US clothing retailer’s apparel online in China, as the Beijing-based e-commerce company goes head to head with Alibaba Group Holding Ltd to woo big foreign fashion names.
Alibaba and JD.com, China’s number one and two e-commerce companies respectively, are vying to ink deals with some of the world’s most recognised brands, which offer big boosts in both sales and image at home and overseas.
By announcing its partnership with JD.com in a joint statement on Thursday, Gap, which already has a store on Alibaba’s Tmall website, would be the latest foreign company to sign with some of China’s biggest Internet firms, including Tencent Holdings Ltd.