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August 6 – Toyota Motor Corp (NYSE: TM) is recalling 160,784 RAV4 vehicles in China for faulty rear cantilevers. The Japanese carmaker made the same recall in the US involving 760,000 vehicles earlier this month.
http://cn.reuters.com/article/chinaNews/idCNCNE87505820120806
August 3 – Covidien PLC (NYSE: COV), a Dublin, Ireland-based healthcare product manufacturer, said it plans to invest $45 million building a research and development center in Shanghai to create customize products for China and other emerging markets.
http://www.yicai.com/news/2012/08/1953431.html
August 3 – Apple Inc (Nasdaq: APPL) fell to fifth place among international smartphone vendors in China in Q2 2012 as iPhone shipments in the country declined by 37% quarter on quarter, according to the latest data from Canalys.
http://www.businessinsider.com/heres-why-apple-is-falling-behind-in-china-2012-8
August 3 – Starbucks Corp (Nasdaq: SBUX) said it plans to open 1,200 restaurants worldwide next year, including 500 in China and Asia Pacific.
http://money.163.com/12/0803/01/87UQ58E000253B0H.html
August 1 – Coach Inc (NYSE: COH, HKG: 6388) posted $300 million in revenues from China in its fiscal Q4 ending June 30 2012, up over 60% from a year earlier. It opened 11 outlets in the country during the quarter, increasing the total number in China to 96. Worldwide, revenue was up 12% to $1.16 billion.
http://www.eeo.com.cn/2012/0801/231032.shtml
August 1 – US jeweler Tiffany & Co (NYSE: TIF) opened its fifth outlet in Shanghai. The store spans 214m2.
http://www.linkshop.com.cn/web/archives/2012/219522.shtml
July 31 – Anheuser-Busch InBev NV (NYSE: BUD) inaugurated a beer brewery in Xinxiang, Hunan province in central China. The initial phase of the project is expected to produce 200,000 kiloliters annually before capacity is eventually lifted to half a million kiloliters in the future. The beverage giant said it is inspecting Shaanxi and Yunnan provinces for the establishment of beer breweries capable of one million kiloliters per year. The company's sales volume and revenue from China rose 5.9% and 5.4% respectively in 1H 2012 from a year earlier.
http://www.eeo.com.cn/2012/0731/230971.shtml
@2011 China Economy @ The China Perspective.
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