China moves to close the door on opening-up

Yonghui Superstores is a major player in China’s retail sector. Since April, the grocery chain with more than 500 outlets has been finalizing a 559 million yuan (US$83.2 million) deal to increase its stake in state-backed retailer Wuhan Zhongbai Group to 40%. At first glance, there was nothing unusual about the move. But now, there appears to be […]