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BEIJING, Dec. 26 -- European fashion retailers are accelerating business expansion in China thanks to the nation's increasing number of fashion-conscious consumers.     Two companies that opened new outlets in China at a rapid pace this year included Sweden's H&M and Spain's Zara, both retailers of clothing and accessories for adults and youth.     H&M is ending this year with a total of 13 new stores, raising the company portfolio in China to 27 outlets, while Zara, opened 33 new stores in China, winding down the year with 60 in total.     "In China, new store openings have more than doubled due to strong domestic consumption, which has not been affected by the global financial downturn," said Wu Shuang, public relations manager of H&M China. Globally, H&M store openings are up between 10 percent and 15 percent in 2009, said Wu.     "More H&M stores will be set up in China next year, especially in the second-tier cities," he said.     H&M, Europe's second largest fast-fashion retailer, entered the Hong Kong and Shanghai markets in 2007 and later expanded its business to second-tier cities like Hangzhou and Ningbo of Zhejiang province.     Back in August, H&M sales in Spain, the US and France were down 11 percent over July sales, the fourth consecutive monthly drop.     In 2008, average sales revenue at H&M stores in the Chinese mainland and Hong Kong was up 23 percent to 59 million yuan, while globally average store sales was 48 million yuan.     "We are expecting favorable sales volume in China this year," said Wu, while declining to elaborate further.     Strong sales numbers were also recorded at Zara, the leading fast-fashion retailer in Europe. "The Chinese market is attractive with its soaring consumer spending power," a Zara promotion executive said on condition of anonymity. Chinese consumers can expect to see more Zara 'fast fashion' stores in the future," he said.     Fast fashion is a term used to describe fashion trends that are manufactured quickly in smaller batches to keep inventories down and allow mainstream consumers to take advantage of current clothing styles at lower prices. This type of quick manufacturing methodology is preferred by large retailers like H&M, Forever 21 and Zara, according to online apparel industry directory, Apparel Search.     This access to the latest clothing styles is popular with white-collar consumers in China.     "I have been waiting for 30 minutes to try on several pieces of clothing, but the wait doesn't matter. I love to get everything here, and the prices are acceptable," said Liu Dan, a woman in her 20s shopping at one of Zara's Beijing stores. Liu, who works in the public relations department at an international company, said she is also a regular patron of H&M in Beijing. Both H&M and Zara stores are often crowded with local consumers, especially on the weekends.

BEIJING, Nov. 2 (Xinhua) -- Stocks on ChiNext, the country's Nasdaq-style board for domestic start-up firms, rode on a roller coaster on the first two trading days: soaring at debut and taking a sudden turn on the second day.     Twenty stocks out of the total 28 fell by the daily limit of 10percent at Monday close, compared with an average of 106.23 percent surge on Friday, the first trading day, driven by a speculative surge for quick profits.     About 252,600 individual investors bought 423 million new shares at ChiNext on Friday, accounting for more than 97 percent of all new shares on the market.     The average price-earnings ratio for the initial public offering prices was at around 55.70 times, and then was pushed up to around 111 times, much higher than 25.98 times and 37.80 times at main boards in Shanghai and Shenzhen bourses respectively.     The bubbly opening led to warnings of risks posed by excessive speculation and inflated stock price.     Jin Yanshi, chief economist with the Sinolink Securities, said the price-earnings ratio was too high driven by the irrational buying spree. He said the frenzy would gradually cool off, and he expected a 30 percent to 50 percent drop of share prices in three to six months.     Analysts said it was typical in China that new shares would face speculation at debut and see large initial gains, followed by a continuous pullback.     China State Construction Engineering Group shares soared more than 60 percent at debut in Shanghai on July 29 from a initial public offering price of 4.18 yuan and ended at 6.53 yuan, up 56.22 percent. On Monday, its close price stood at 4.79 yuan.     It also reminded of the launch of board for small and medium-sized enterprises at Shenzhen Stock Exchange market on June25, 2004, when shares of eight new stocks rose more than 130 percent. The share prices fell by an accumulative 40 percent from the close prices on the first trading day three months later.     China made plans to launch the Nasdaq-style board for trading of start-up shares in 1999 to boost development of small and medium-sized enterprises. The plan was postponed in 2001 when the Internet bubble burst in the United States.     Since 1962, a total of 39 nations or regions have launched 75 such boards for start-up companies to raise funds. However, about half of them ended up closing due to weak market sentiment and regulatory inconsistencies, and 41 markets were operational as of the end of 2007.     The Growth Enterprise Market, kicked in Hong Kong in 1999, was a luck luster as investors were scared away by the plunge in value of technology stocks in 2001. The index fell about 90 percent since then.     By contrast, Nasdaq set up in the United States in 1971 has been a successful one, which attracted giants like Microsoft and Intel, and became the major market for overseas listing of Chinese enterprises. There are currently 116 Chinese companies listed on Nasdaq, including Baidu.     Analysts attributed the main reasons for failure of some markets to blindly lowering threshold of market entry, poor supervision and inactive transaction.     The wild fluctuation challenged the ability of regulators to control volatility in the new bourse and stirred concerns whether it would grow to be a second Nasdaq or the dazzling debut would be the last wild ride.     Shang Fulin, chairman of the China Securities Regulatory Commission said on Oct. 23 that trading on the new board may have a probability of becoming "irrational" than on other bourses.     "Preventing risk is our main task," he said. "We'll make sure risk is estimated, detected and controlled."     The Shenzhen Stock Exchange issued special suspension rules to clamp down on speculation. Trading would be suspended for 30 minutes if share price rises or falls by 20 percent from its debut level. If a stock fluctuates again beyond 50 percent of its opening price, it will be suspended for 30 minutes. The stock can also suspend a stock until three minutes before the close of trading session on a rise or drop above 80 percent.     Zuo Xiaolei, chief economist of the China Galaxy Securities, said the lesson from failure of other markets showed the key to the success of such start-up board was to strengthen supervision while completing rules, which would ward off excessive speculation and rule violations.     The government should develop more policies to attract more firms with great potential growth to make the board bigger and stronger, but threshold for access to the market should not be lowered, analysts said.

SHANGHAI, Nov. 16 (Xinhua) -- President Barack Obama said here Monday that the United States would further expand its youth exchanges with China by dramatically expanding the number of students studying here to 100,000.     Obama said during a dialogue with Chinese students in Shanghai Science and Technology Museum Monday afternoon that young people in China and U.S. are the best ambassadors and that cooperation between the countries should go beyond the governments.     "These exchanges mark a clear commitment to build ties among our people, as surely as you will help us determine the destiny of21st century," he said.     Shanghai was the first leg of Obama's maiden trip to China on Nov. 15-18 since he took office in January.     "I believe strongly that cooperation must grow beyond our government. It must be rooted in our people, in the studies we share, in the business we do, in the knowledge that we gain, and even in the sports we play, and these bridges must be built by men and women just like you, and your counterparts in America," Obama told an audience of about 600 university students in Shanghai.     "I am absolutely confident that America has no better ambassadors to offer than our young people, for they just like you are filled with talent, energy and optimism about the history that is yet to be written.     "So let this be the next step in the steady pursuit of cooperation between our two nations and the world," Obama said.     After delivering the opening remarks, Obama took questions from students as well as the Chinese online community, covering a wide range of topics such as Sino-U.S. cooperation, cross-Strait relations and anti-terrorism in the U.S..     The White House website Sunday posted a notice of Obama's meeting with Chinese youth, saying that holding the event in Shanghai was symbolic as the Shanghai Communiqué was announced here and helped pave the way for normalization and the first 30 years of formal diplomatic relations.     "If there is one thing we can take from today's dialogue, I hope that it is a commitment to continue this dialogue going forward," Obama said in his speech.

BEIJING, Nov. 16 (Xinhua) -- U.S. Secretary of Commerce Gary Locke said here Monday clean energy technology is one of the most beneficial areas for U.S.-China cooperation and also the only way for the two countries to keep sustained economic growth and combat global climate change.     Locke, who accompanied U.S. President Barack Obama's visit to China, made the remarks at the Sino-U.S. clean energy round table conference held here Monday.     It has been Locke's third trip to China since becoming Commerce Secretary in March.     "The United States and China have the power and indeed an obligation to alter history for the benefit of all people on the planet," he said.     As the world's most productive and innovative economies, the U.S. and China are uniquely positioned to create the solar, wind, biofuel and renewable technologies that the world wants and needs, Locke said.     "We can do it by making clean energy the prime engine of the economic growth in the 21st century," he said.     Locke said he plans to lead an energy and trade mission to China next March, which would include U.S. firms from new energy technology sectors and make stops in Beijing, Shanghai and other cities.     U.S. Secretary of Energy Steven Chu also attended the conference, who expressed optimism about U.S.-China cooperation in the deployment and development of clean energy technology.     The conference was co-hosted by China's State Energy Bureau, U.S. Department of Commerce and Department of Energy, in a bid to advance mutual pragmatic cooperation in clean energy and promote the development of clean energy technology and industry.

BEIJING, Dec. 7 (Xinhua) -- Vice Premier Wang Qishan on Monday hoped China and Germany would increase mutually-beneficial cooperation in various fields to promote bilateral relations.     "China and Germany are highly complementary in economy and share great potential for cooperation," Wang told visiting German Federal Minister of Economics and Technology Rainer Bruederle.     Hailing the China-Germany 37-year diplomatic relations, Wang said the two nations had witnessed frequent high-level exchanges and increased cooperation in economy, trade, investment, science, technology, culture and other fields.     China was in a period which witnessed accelerated industrialization and urbanization, Wang said. "We will unswervingly follow the principle of putting people first and the scientific concept on development to seek sustainable development."     Bruederle said Germany would work with China to expand bilateral cooperation, in a bid to promote healthy and stable development of trade and economic relations between the two nations.

来源：资阳报