New World Department Store China Limited
Encyclopedia
New World Department Store China Limited is a Hong Kong
-based company engaged in department store
operation in China
. It is a subsidiary
of New World Development
. It has self-owned stores and managed stores in Hong Kong and Mainland China, and operates under two brands: "New World" (Chinese:
新世界) and "Ba Li Chun Tian" (literally "Paris Spring")(Chinese:
巴黎春天). Its company chairman is Henry Cheng
, the son of the Hong Kong billionaire
, Cheng Yu-tung
. It was listed on the Hong Kong Stock Exchange
with IPO price of HK$5.8 per share.
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
-based company engaged in department store
Department store
A department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
operation in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
. It is a subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
of New World Development
New World Development
New World Development Company Limited , based in Hong Kong, is active in property, infrastructure, services and telecommunications. It was established in 1970 with Dr Ho Sin Hang as Chairman and Chow Chi Yuen as Director and General Manager...
. It has self-owned stores and managed stores in Hong Kong and Mainland China, and operates under two brands: "New World" (Chinese:
Chinese language
The Chinese language is a language or language family consisting of varieties which are mutually intelligible to varying degrees. Originally the indigenous languages spoken by the Han Chinese in China, it forms one of the branches of Sino-Tibetan family of languages...
新世界) and "Ba Li Chun Tian" (literally "Paris Spring")(Chinese:
Chinese language
The Chinese language is a language or language family consisting of varieties which are mutually intelligible to varying degrees. Originally the indigenous languages spoken by the Han Chinese in China, it forms one of the branches of Sino-Tibetan family of languages...
巴黎春天). Its company chairman is Henry Cheng
Henry Cheng
Dr. Henry Cheng Kar-shun ; born 1946, Hong Kong), GBS, is a Hong Kong entrepreneur and billionaire.The elder son of Dr...
, the son of the Hong Kong billionaire
Billionaire
A billionaire, in countries that use the short scale number naming system, is a person who has a net worth of at least one billion units of a given currency, usually the United States dollar, Euro, or Pound sterling. Forbes magazine updates a complete list of U.S. dollar billionaires around the...
, Cheng Yu-tung
Cheng Yu-tung
Cheng Yu-tung GBM is a Hong Kong billionaire with extensive business dealings and real estate interests in both Hong Kong and Macau. He owns the privately-held Chow Tai Fook Enterprises, a conglomerate which operates the Sheraton Marina hotel and controls the publicly listed New World group...
. It was listed on the Hong Kong Stock Exchange
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
with IPO price of HK$5.8 per share.