Zong Qinghou , China’s richest person with a fortune estimated to be at least $8 billion, says his personal spending averages $20 a day. The soda and juice magnate doesn’t gamble, drink or play golf and eats his meals at the company canteen.
Apple Inc. Chief Executive Officer Tim Cook apologized to Chinese consumers after two weeks of being lambasted by state-run media for arrogance and poor customer service. The company’s offense? It failed to replace the back covers of iPhones after repairing electronics inside.
Wal-Mart Stores Inc., the world’s largest retailer, plans to add as many as 110 stores over three years in China, while shutting some outlets and remodeling dozens more as it seeks to overhaul its business there.
Apple Inc., whose skill at hyping new products helped make it the world’s most valuable technology company, became a victim of its own success after a botched introduction of its iPhone 4S in China led it to suspend sales.
Apple Inc. said China has become its largest market after the U.S. as the iPhone, iPad and iMac computer maker opened an online store last year and six retail outlets in the past three years in the Asian nation.
China Resources Enterprise Ltd. , owner of Hong Kong’s second-biggest coffee chain, plans to open as many as 1,000 Pacific Coffee shops in China, challenging Starbucks Corp. in a market growing by 20 percent a year.