November 12, 2008
Tesco to Increase Presence in China
British supermarket group Tesco has said that it will increase its presence in China by opening new stores in the country's eastern coast provinces in 2009.
The retailer will be opening new stores in the country's eastern coast provinces of Shandong and Fujian. New stores will also be opened in the northeast province of Liaoning. The company plans to eventually enter all the 14 cities in this province.
According to Reuters, since 2004, Tesco has doubled the size of its Chinese business. However, the country still accounts for only a small proportion of sales.