QVC Forming TV Retailing Joint Venture in China

CBS News -- QVC Inc., the television and online shopping giant headquartered in West Chester, PA, is expanding into China. QVC said last week that it has agreed to form a joint venture with China's government-owned radio, China National Radio, to operate a retailing business in China through CNR Mall TV, a shopping television channel with an associated website. The joint venture, known as CNR Home Shopping Co. Ltd., will be headquartered in Beijing.

"QVC has long recognized the great potential of having a retail presence in China," Mike George, QVC's president and CEO, said in a statement. "QVC's track record of success in the United States, United Kingdom, Germany, Japan and Italy proves that our business model can thrive across many borders."

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