Chinese Government Gives Carrefour Permission to Expand
PARIS - French retailer Carrefour SA today said that it has secured approval from the Chinese government to resume its expansion program in China, The Associated Press reports.
The company plans to open 10 new stores in 2002. Its first store will be in the city of Nanking.
"After discussions with the Chinese authorities in the context of the country's membership of the World Trade Organization, we've been cleared to expand from this year," Rene Billet, director of Carrefour's Asian operations, said.
Carrefour, which already operates 27 large supermarkets in China, had been involved in discussions with Chinese authorities along with Wal-Mart Stores Inc. of the United States and Germany's Metro AG.
The company plans to open 10 new stores in 2002. Its first store will be in the city of Nanking.
"After discussions with the Chinese authorities in the context of the country's membership of the World Trade Organization, we've been cleared to expand from this year," Rene Billet, director of Carrefour's Asian operations, said.
Carrefour, which already operates 27 large supermarkets in China, had been involved in discussions with Chinese authorities along with Wal-Mart Stores Inc. of the United States and Germany's Metro AG.