Metro Opens 15th Chain Store in China

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Last updated at: (Beijing Time) Saturday, November 24, 2001

Metro Opens 15th Chain Store in China

Germany's Metro, a world-renowned retail giant, has opened another chain store in this capital of central China's Hunan province. It is the 15th chain store established by Metro in China.

Germany's Metro, a world-renowned retail giant, has opened another chain store in this capital of central China's Hunan province. It is the 15th chain store established by Metro in China.

With China's WTO accession, German Metro is stepping up its business in China, planning to establish 50 chain stores in the next three to five years. After Metro first invested in Shanghai in 1995, the German company, which is ranked third in size after the U.S.-based Wal-Mart and France-based Carrefour,began to expand its chain store business to other large or middle-sized Chinese cities, including Nanjing, Fuzhou, Wuhan and Chengdu.

Metro makes 80 percent of its profits by purchasing large batches of commodities from producers worldwide, and then targets wholesale-oriented consumers.