Rural retail chain planned

China Post Group and the US-based China Horizon Investments Group signed a cooperative joint venture on Friday to create a chain of Post Mart retail stores across rural China.

Under the deal, China Horizon will invest 1 billion yuan ($162.8 million) in a 25-year lease of 10,000 China Post retail stores.

China Post is a State-owned enterprise specializing in postal finance, delivery and logistics services.