China Economic ReviewBritish home improvement retailer B&Q plans to invest US$77m to increase the number of its stores in China to 60 by 2007, Dow Jones reported. The company would double its store count to 16 in 2003. Most of the 60 stores would be in coastal cities, but the company is also considering opening stores in […]
Chinese retailer Tianjin Quanye was reported by China Securities Journal to have signed a memorandum of understanding to form a joint venture with French hypermarket operator Carrefour. Quanye would own 35 per cent of the venture, which would open four supermarkets in Tianjin. Carrefour, the world's second largest retailer, currently has 20 stores in China […]
German retailer Metro plans to open three new stores in China by the end of 2002, Reuters reported. The new stores would be in Tianjin, Xiamen in Fujian province and Xian in Shaanxi province, and they would take the 11 total number of Metro stores in the country to 18. The company regards China as […]
Netherlands-based wholesale warehouse chain Makro will open 30 membership chain-stores in China by 2010, Xinhua reported. The company already operates two joint-venture stores in Beijing, which posted sales worth Yn850m in 2001. The first new store would be opened in Tianjin later this year and in 2003 the company plans to open outlets in Shijiazhuang, […]
Consumer confidence in China fell over the first six months of 2002 but remained strong, according to an Asia-Pacific survey by MasterCard International. China's mid-year index of 73.6 was down from the country's highest ever score of 84.8 at the start of the year. Weaker consumer sentiment on employment (53.6) and the stock market 57.1) […]