Supermarket chain to expand

Hong Kong-listed China Resources Enterprises plans to open 180 supermarkets in China this year and is also considering buying the Shenzhen Vanguard Department Store retail chain from its parent, China Resources Holdings. Deputy managing director Ralph Keung said the two businesses would complement each other as Vanguard operates mega stores in China while China Resources’ supermarkets focus on food products. The Chinese-backed food-to-petroleum products distributor had 265 supermarkets in Hong Kong and 68 supermarkets in China by the end of June 2001.