Office 1 Superstore to Tap China's Office Supplies Market

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Last updated at: (Beijing Time) Tuesday, May 28, 2002

Office 1 Superstore to Tap China's Office Supplies Market

Office 1 Superstore of the US announced Monday in Shanghai that it will open 500 chain stores selling office supplies in China in the next three years.

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Office 1 Superstore of the US announced Monday in Shanghai that it will open 500 chain stores selling office supplies in China in the next three years.

This east China metropolis will be the starting point and the center of its China business. A 4,500-sq-m general office will be opened in downtown Shanghai in the next three months, and in two years the company hopes to operate a total of 20 central stores and franchises in the city.

An official with the company said that Office 1 Superstore has chosen to enter the Chinese market at this time mainly for three reasons: First, import tariffs for office supplies have dropped significantly following China's entry into the World Trade Organization; second, there is still a lack of prominent brands and services in this field in China; third, China has an abundance of inexpensive but high-quality office supplies that can well meet the requirements of many transnational companies.

The official predicted that its purchases of office supplies in China would reach between 200 million and 300 million U.S. dollars in 2003.

Statistics show that annual sales of office supplies amount to 60 billion yuan (about 7.23 billion U.S. dollars)-worth in China.

In prosperous coastal cities such as Shanghai, per capita consumption of office supplies exceeds 100 yuan (about 12.05 U.S. dollars)-worth annually.

Office 1 Superstore has already opened more than 350 chain superstores selling office supplies in 20-odd countries and regions.

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