Retail giants eyeing western China

10:23, October 20, 2009      

Email | Print | Subscribe | Comments | Forum 

"Carrefour will open two new supermarkets in Chengdu, and nine more in the coming two years," said Gean LucLhuillier, Carrefour China's vice president, at the 2009 Western China International Economy & Trade Fair held in Chengdu, Sichuan province.

Impacted by the global financial crisis, Carrefour recorded huge losses in the first half of 2009. However, the European retail giant did not stop its expansion in China, especially western China. Gean LucLhuillier said that the company had signed 6 programs at the fair and would invest around 500 million yuan to open new supermarkets in 6 cities in Sichuan.

Wal-Mart, the world's largest retailer and Carrefour's competitor, released a more ambitious expansion plan than Carrefour. The company has planned to open 5 branches in Sichuan in 2010 and to establish a logistics center in Chengdu within three years. It will be the fourth logistics center Wal-Mart has established in China.

"We are willing to invest in western China," said Ou Guoming, senior manager of Wal-Mart Regional Office, adding that this decision was based on the significance of the western China market.

In the first half of 2009, western China witnessed 11.8 percent of GDP growth and 19 percent retail sales growth.

By People's Daily Online
  • Do you have something to say?
Special Coverage
  • 60th anniversary of founding of PRC
Major headlines
Editor's Pick
Most Popular
Hot Forum Dicussion