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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.
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