IKEA, one of the world's largest furniture retailers, plans to open new branches in Beijing and Shanghai, according to sources from the Swedish furniture company. Ding Hui, Vice Chairman of IKEA China, said last week that the new Beijing IKEA will be open to the public in April, while the site of the Shanghai one is still in the selection process. (Xinhua)

Beijing Enterprises Holdings Ltd said yesterday it would sell its retail services operation for 1 billion yuan (US$125 million), to streamline its asset portfolio and focus on its infrastructure and utilities businesses. The Hong Kong-listed company said in a statement it would sell its entire 50.13 per cent stake in Beijing Wangfujing Department Store (Group) Co Ltd to its parent, the Beijing Municipal government, for cash. (HK Edition)

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