FORTUNE -- The Swedish retailer's stores in China have become a favorite leisure destination for shoppers. At Ikea's Beijing outlet (below) -- its busiest store in China -- patrons can be seen sipping lingonberry juice in the cafeteria, taking family portraits in showrooms, or even sleeping on the beds. Last year 33 million people visited Ikea's Chinese mainland stores. Revenue growth of 20% makes this one of the company's fastest-growing markets. --Anne VanderMey

As customers ride an escalator at Ikea's Beijing store, they can snap up a green apple corer, if they choose.
By the numbers:
20,000: The average number of shoppers a day who visit Ikea's 463,000-square-foot store in Beijing. On Saturdays and Sundays that number can spike to around 30,000 visitors.
9: The number of stores Ikea has opened in mainland China, with five more under construction. The Asian/Australian region accounts for 6% of the company's sales.
$2.7 trillion: China's retail sales in 2011 as estimated by China Market Research Group, up 16% from the prior year. By contrast, U.S. retail sales so far this year have grown 8%.
Sources: Ikea; China Market Research Group
This article is from the December 12, 2011 issue of Fortune.
How an American company is trying to break China's monopoly on high-tech minerals.
By Richard Martin, contributor
Molycorp's Mountain Pass Summit rare-earth mine was the largest in the world until the Chinese helped drive it out of business in 2002. American investors have now reopened it.
FORTUNE -- Few weekenders making the four-hour run from L.A. to Vegas notice the big mill works overlooking Interstate 15 at Mountain Pass Summit in California, MORE
Nov 18, 2011 5:00 AM ET
Many players -- and fans -- were hoping to see some NBA talent shoot hoops in China while the lockout continues. But China is expected to nix the plan, at its own peril.
By Eli Epstein, contributor
FORTUNE--For weeks it was all NBA fans heard: Kobe Bryant, Dwayne Wade, Carmelo Anthony, and Chris Paul are all headed for China, lured by lucrative contracts, cushy accommodations, and an untapped, outrageously accessible Chinese apparel MORE
Aug 17, 2011 2:55 PM ET
China will spend billions on biotech, even as the industry struggles in the U.S. to turn research into gold. Will U.S. biotech become the next Detroit?
By David Ewing Duncan, contributor
FORTUNE -- Now it's China's turn to fling lots of cash at trying to come up with cures.
For more than a decade, the U.S. has lavished funding on efforts to transform a wealth of biological breakthroughs in the lab into actual MORE
Aug 15, 2011 12:20 PM ET
Mike Duke sees Wal-Mart (WMT) shoppers embracing smart phones. He "loves" his company's business in Mexico. And given Wal-Mart's history of buying the goods it sells in developing countries, especially China, he's even excited about the handful of U.S. products Wal-Mart is exporting to places like Japan and China.
Duke is attending the World Economic Forum in Davos, Switzerland, for the first time, yet another sign that the once-insular Wal-Mart is MORE
Jan 27, 2011 6:16 AM ET
As Western companies duke it out for a piece of the developing-market pie, Procter & Gamble is going deeperĀ -- courting not just the newly rich but also the very poor. The company's vaunted R&D operation is turning up surprises.
By Jennifer Reingold, senior editor
Wei Xiao Yan, a 29-year-old farmer in China, washes her hair in the doorway of her kitchen. P&G researchers spent a day with her at MORE
Jan 6, 2011 5:00 AM ET
By Nin-Hai Tseng
Contrary to what many investors and banks fear, JPMorgan's (JPM) China guru Jing Ulrich doesn't think there's a housing bubble in the world's second largest economy.
Ulrich, speaking at Fortune's Most Powerful Women Summit Wednesday morning about how to navigate China's marketplace, says the surge in home prices exist in a few areas such as the country's major cities but prices generally aren't inflated.
Her remarks come as Chinese government MORE
Oct 6, 2010 9:32 AM ET
The Oracle of Omaha is optimistic about the American economy.
By Nin-Hai Tseng, reporter
While many corporate executives complain that America appears to be losing its competitive edge, billionaire investor Warren Buffett paints a resilient picture of the U.S. economy, which he says is filled with a level of innovation that's hard to find in other parts of the world.
In an interview with Fortune's Carol Loomis Tuesday at Fortune's Most Powerful Women MORE
Oct 5, 2010 10:53 AM ET
Fortune senior editor Jennifer Reingold is filing dispatches from China, where she is traveling with Procter & Gamble CEO Robert McDonald to observe the company's growing emphasis on Asia.
Chinese Pavilion for Shanghai 2010 Expo (Renato Ganoza/Flickr)
Aug. 18, 2010, Shanghai
How would you portray your own country to the world if you could choose literally anything? If you're Germany, you'd build an amazing biodegradable structure with shots of the MORE
Aug 19, 2010 3:29 PM ET
Fortune senior editor Jennifer Reingold is filing dispatches from China, where she is traveling with Procter & Gamble CEO Robert McDonald to observe the company's growing emphasis on Asia.
The apartment could be in an wealthy neighborhood in Paris or Manhattan: a gleaming kitchen with coffeemaker, a balcony with a child's bike perched outside, and his and her laptops. Instead, it belongs to an eager representative MORE
Aug 18, 2010 9:54 PM ET