Carrefour to expand in China

Retail sales giant Carrefour is planning to open 20 new stores in China this year alone. The cost of realizing the plans is estimated to run at 150 million euros, says Carrefour China's newly-appointed president Eric Legros.

Carrefour has been focusing on expanding its operations in China's major cities, such as Beijing and Shanghai, but is also keen to establish stores in medium-sized and small cities. According to Legros, more stores will soon be opened in northeastern and southeastern China.

French grocery giant Carrefour entered the Chinese market in 1995, and last year it had already 92 stores in the country. The company is reportedly not planning to acquire Chinese retailers, nor will it aim to compete with other companies in the sector in terms of the number of stores, says Legros.