REXEL (French group PINAULT-PRINTEMPS-REDOUTE) has gained the agreement of the Chinese authorities to create a joint-venture with the Chinese group HAILONG (real estate and retailing). Called REXEL HAILONGXING ELECTRICAL EQUIPMENT, it will be held to the tune of 65% by REXEL and should have an annual turnover of 100 million yuan through eight sales outlets.