Fast Retailing of Japan has opened its first two Uniqlo discount clothing stores in Shanghai, AFX-Asia agency reported. The company said that it had high hopes for the Chinese market and that it would focus on the Shanghai area, which is within three hours drive of the company's Chinese factories that produce 90 per cent of its products. It has more than 500 outlets in Japan, and China is the firm's second foray into overseas markets, after the UK in 2001.
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