Suning to sell consumer finance unit for $58m in restructuring – Nikkei Asia

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Chinese group refocuses on core retail portfolio after expansion hits earnings

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Suning rapidly broadened the scope of its operations with acquisitions, including the Chinese supermarket business of France’s Carrefour Group. (Photo courtesy of Suning Group)

NAOKI MATSUDA, Nikkei staff writer | China

SHANGHAI — will unload its consumer finance unit as the embattled Chinese group seeks to exit money-losing operations and rebuild its core retail business under the leadership of a state-owned fund and major shareholder Alibaba Group Holding.

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