Shanghai Daily news

Using the Morgan Stanley competitive strategy, Yongle is moving into Hong Kong's capital market, according to Chen Xiao, board chairman from the Yongle Home Appliance.
Following Gome's achievement in Hong Kong, along with the list of Suning in the mainland market, Yongle is expecting to be listed in Hong Kong by end of 2005.  This indicates that the competition among these three giants in the home appliance industry has been upgraded to a scramble for shares in the capital market. 
Yongle has transferred 20% of its shares to Morgan Stanley, worth US$50 million (414 million yuan).  "Attacking is the best way of defending,"  Chen Xiao insists.
On the basis of the existing 108 chain stores already opened in Suzhou, Guangzhou and Fujian Province in 2004, 2005 will the year for Yongle to enter more cities, including Beijing and Nanjing, the hometowns for Gome and Suning.
With the opening of domestic retail market, foreign capital won't miss the opportunity to profit here.  The international renowned retailing tycoon BestBuy has established a purchasing center in Shanghai and is likely to open chain stores in China.