French retail giant Carrefour said that, given the difficulties of lobbying the government, it would maintain its joint-venture partnerships rather than go it alone. With a loosening of restrictions in the sector coming December 11, retailers will be free to operate independently in China. Last year, the company had 32 joint ventures and ranked fifth in China's retail market with sales of RMB13.4bn across a network of 41 stores, the South China Morning Post reported quoting Miinistry of Commerce data. Currently, it has 53 stores in 18 cities, representing an investment of ï¿½350m (US$463.58m) The company aims to build another 40 stores within five years.
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