International Chain Giants to Debut in Beijing

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Last updated at: (Beijing Time) Tuesday, November 19, 2002

International Chain Giants to Debut in Beijing

Seven established foreign chain stores will open outlets in Beijing next year, sources with the Beijing Commerce and Trade Committee said recently.

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Seven established foreign chain stores will open outlets in Beijing next year, sources with the Beijing Commerce and Trade Committee said recently.

The seven big names are B&Q, OBI, Leroy Merlin, Seven-Eleven, Spain Discount, Auchan and Wal-Mart.

All of the giants have had a presence in China for several years after establishing themselves in Shanghai or other eastern Chinese cities. Their projected move is widely expected to triggera new round of serious competition in the capital's retail business in terms of logistic, marketing and capital management practices.

Sources say some joint venture retailers such as Ikea, Carrefour and Ito Yokado will expand their operations in Beijing next year.

Foreign commercial giants entered Beijing in 1992 and there were 17 commercial joint ventures in the capital city by the end of October 2002. The total retail sales of 15 of them amounted to 7.72 billion yuan (930.1 million US dollars) in 2001, making up 4.8 percent of the city's total.

Experts say that fast development of local chain stores are attributable to the city's rapid economic development, opportunities brought by the Beijing 2008 Olympic Games, and the country's successful accession into the World Trade Organization.

A blueprint for chain operation development in the 10th Five-Year-Plan period (2001-2005) released by the State Economic and Trade Commission recently indicates that China will promote development of chain stores dealing in petrochemical, tobacco, books and newspapers, pharmaceutical, telecom, software, auto sales, commodities leasing, education and training, tourism industries as the chain outlets "provide daily necessities under one roof".

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