August 17 – The Gap Inc (NYSE: GPS) said that it will introduce its upscale brand, Banana Republic, into China in 2013 and plans to operate 45 Gap-brand outlets in the country by the end of 2012.
August 16 – Walt Disney Co (NYSE: DIS) signed a memorandum of understanding with Guangzhou-based Southern Media Corp to jointly produce children's programs featuring Chinese culture and stories for the global market via Disney's network.
August 16 – InterContinental Hotels Group PLC (NYSE: IHG), the world's largest provider of hotel rooms, said it has joined electronic marketing in China by teaming up with Trip.taobao.com, a local online travel service provider. The hotelier's rooms at different brands in major cities on the mainland and Hong Kong and Macau are now open to reservations via the website.
August 16 – Starbucks Corp (Nasdaq: SBUX) opened its first branch in Taiyuan, Shanxi's provincial capital. The US coffee company plans to operate eight to 10 branches in the city by the end of this year.
August 15 – Ford Motor Co (NYSE: F) said its sales volume in China jumped 32% year on year to 42,560 vehicles in July.
August 15 – The Ministry of Commerce has given a conditional approval to Walmart Stores Inc (NYSE: WMT), permitting its wholly-owned subsidiary, GEC 2, to purchase 33.6% of Yihaodian.com, a leading Chinese online supermarket, increasing its stake in the site to 51.3%. However, Walmart is not allowed to use Yihaodian's e-commerce platform to sell its goods. Yihaodian's turnover tripled to ¥2.7 billion last year.
August 15 – Royal Dutch Shell PLC (NYSE: RDS.A) said it will spend $100 million building a lube oil plant with an annual capacity of 300,000 tons in Tianjin. The plant is expected to become operational by 2015 and be expanded later. The British-Dutch oil giant is currently capable of producing 1.5 million tons of lube oil in China annually.
$1 = ¥6.35