Tesco plans China expansion

Tesco will boost its presence in China by opening new stores in the eastern coastal provinces of Shandong and Fujian next year,  AP reported. The world’s third-largest retailer also said in a statement on its website that it would continue to expand in Liaoning province, where it already has 11 stores. "We are targeting expansion in all 14 cities in the province and have strong support from the province level government," the firm said. Tesco’s sales growth in China slowed to 8% in the 10 weeks to November 1 amid slowing growth in South Korea, the firm’s largest market outside Britain.