The Beijing-headquartered supermarket chain Wumart has announced plans to cancel entrance fees for promotion personnel sent by its suppliers to the stores of Wumart from 2009. Wumart is reportedly the first major retailer that canceled its entrance fee in Beijing. According to Fu Yu, Wumart's public relations director, starting from January 1, 2009, Wumart will no [...]

Wumart Stores, Inc. has announced that Hangzhou Tiantian Wumart Commerce Co., Ltd., a wholly owned subsidiary of the company, will acquire a 85% stake of Shaoxing Shangchao Investment Co., Ltd. for CNY151,177 million, giving Wumart indirect ownership of 54.09% of shares of Zhejiang Supply and Marketing Supermarket. A report shows that the business sites of Zhejiang [...]