This week will experience the huge opening of two new department stores in Taipei City, which will provide different products to woo Chinese as well as local shoppers plus bring even more strong competition to the island’s robust retail industry.

Meanwhile, both the department stores are Momo, part of the Fubon financial company, and Hankyu, part of food giant Uni-President. Both the new departments will open respectively on Wednesday and Thursday.

According to reports, a major leader in Beijing’s construction industry, Beijing Urban Construction Investment & Development Co Ltd has recently announced in a press release that a wholly-owned subsidiary has successfully acquired the bid for a 17.61-hectare land in Haidian District, Beijing.

Meanwhile, the property developer is all set to invest around RMB 2.8 billion to acquire the D1 and C6-C8 plots in Haidian District.

Further, the land has construction area of around 14.07 hectares and gross floor area of 379,800 square meters.

According to the recent news, Beijing’s trade with Africa is on a move to reach US$100 billion this year as it benefits from investment in mines, farms as well as other factories in the country.

According to the news revealed by the official news agency Xinhua, trade between both the countries increased to 65 percent in the first six months of this year to hit 61.2 billion dollars.

China’s Ministry of Commerce stated that China-Africa trade dropped to US$91.1 billion in the last year, a fall of 14.7 percent from US$106.8 billion in 2008.

According to the statement issued by the Ministry of International Trade and Industry of Malaysia, the country will meet its Asean promises for the liberalization of the services segment when it liberalizes 15 new services sub-sector.

While talking to reporters, Minister Mustapa Mohamed said that the expected commencement of the new segments was made after references with the related ministries and the private sector.

United Microelectronics Corp. (UMC) is very much hopeful about the demand for chips used in consumer electronics in the second half of 2010.

The above statement was released by the UMC Chief Executive Shih-Wei Sun, during the company’s first quarter analysts’ meeting in late April.

According to the data released by IDC Taiwan, a total of 26,017 units of projectors were sold in the country in the first three months of 2010, a fall of 55 percent quarter-on-quarter but jumps 28 percent year on year.

While talking to reporters, market analyst at IDC Taiwan’s PC & Peripherals Group, Mel Yeh said, “Demand from the educational sector declined sharply from a peak period in the fourth quarter of 2009, but the home and commercial markets saw clear sales recovery.”

According to recent reports, trade between Taiwan and Jiangsu Province was US$11.33 billion in the first four months of 2010, which showed an increase of around 91.9 percent as compared to the last year.

Moreover, Jiangsu, an economically-developed area in East China, accounts for around 25 percent of the total trade between Taiwan and mainland China.