China is drafting new regulations that could restrict expansion of foreign retail giants like France's Carrefour and US-based Wal- Mart, according to state media. Foreign retailers have been aggressively expanding in China in recent years leading the government to worry about possible overheating and foreign domination. Reports said that foreign companies that have "violated Chinese retailing rules" could be barred from opening new stores and, in some cases, restricted from future investments in commercial companies in China altogether. Some companies have opened megastores after signing agreements with local governments instead of Beijing.
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