Chinese Chain Store Marches toward Europe

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Last updated at: (Beijing Time) Thursday, July 03, 2003

Chinese Chain Store Marches toward Europe

The Shanghai Lianhua Supermarket, China's largest retail chain store, has been approved to set up a subsidiary with another two investors in Belgium.

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The Shanghai Lianhua Supermarket, China's largest retail chain store, has been approved to set up a subsidiary with another two investors in Belgium.

"This will make us the first indigenous chain store to explore the European market," said president Wang Zongnan.

With the subsidiary company as a bridgehead to the European market, the supermarket giant plans to use its domestic procurement network to send Chinese-made products to the European market and to set up a distribution company specializing in the export and import business to bring back European products meeting the demands of Chinese customers.

Wang believes the move will strengthen the company's competitive edge and quicken the development of the domestic chainstore sector.

Statistics from the China Chain Store Association reveal that the total sales volume of China's top 100 chain-store enterprises reached 246.5 billion yuan (about 26.7 billion US dollars) in 2002,up 52 percent year-on-year, about six percent of the country's total consumer goods sales volume.

In Shanghai and Beijing, the figure reaches 30 and 18.2 percent, respectively.

With 2,000 chain stores across the country, the Shanghai Lianhua Supermarket raked in a sales volume of 18.33 billion yuan (about 2.2 billion US dollars) in 2002.

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