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Carrefour denies exiting Chinese market
(chinadaily.com.cn)
Updated: 2009-10-12 13:54

European retail giant Carrefour denies that it plans to pull out of the Chinese market, Beijing Business Today reported today.

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Rumors that Carrefour is exiting the Chinese market were sparked by the fact that Wal-Mart and RT-Mart have both exceeded Carrefour in terms of total store number and single store sales revenue in China.

Chen Bo, Carrefour's spokesperson for China, denied the rumors and said that Carrefour thinks highly of the potential of the Chinese market, and will stick to its annual plan of opening 20 to 25 new stores in the country.