German retailing giant opens 18th chain store in Xi'an
( 2003-08-21 16:56) (Xinhua)
Metro, a well-known retailing giant from Germany, opened its 18th chain store
in Xi'an on Thursday.
Metro entered China in 1995 by founding Metro Jinjiang Cash and Carry Co.,
Ltd. in cooperation with Shanghai-based Jinjiang Group.
The joint venture has so far established 18 chain stores across China since
October 1996 when the first such outlet was founded in Shanghai.
Metro's turnover in China reached 6 billion yuan (about US$723 million). Over
10,000 different commodities made by Chinese producers have been sold worldwide
via Metro's global supply network.
Metro has been a success in China, said Jean-Luc Tuzes, president of Metro
Jinjiang Cash and Carry Co., Ltd, while addressing a function on Thursday to
mark the opening of business at the new store.
He said the company would open more new stores in cities such as Dongguan of
south China's Guangdong Province and Dalian of northeast China's Liaoning
Province, and he hoped the number of Metro chain stores in China would number 40
in three to five years.