Wanda Group, the big China real estate developer led by billionaire Wang Jianlin, has continued to offload non-core assets by selling a department store chain to Suning.com, one of China’s largest online and offline retailer.
Suning said in a press release today it will take over 37 department stores with a membership of four million consumers. Suning’s Shenzhen-traded shares rose by 3.1 per cent after the announcement.
The agreement is the second since the . . .
To continue reading, please subscribe. You will get
- Original and in-depth reporting on China's economy and financial markets
- Details, data and perspectives you don't read elsewhere
- THE WIRE - a Real-Time News platform that delivers everything important about China's economy, companies, stocks, bonds, commodities and the yuan.
- Daily Brief newsletters to get you prepared for every trading day
We highly value independence. We are solely funded by subscriptions from thousands of readers like you.
Already have an account? Sign In