Carrefour to open 20 new stores in China in 2006

Carrefour plans to open 20 new stores in China in 2006, says Gean Luc Chereau, chairman of Carrefour’s China executive board.

Chereau said that in 2005, Carrefour launched 14 new stores in China, pushing the total number of Carrefour’s stores in China to 70. Chereau made the comment at a prize awarding ceremony in Shanghai with a theme of ‘the most influential multinationals in China in 2005’.
Chereau also said the country was currently the firm’s fifth-largest market. He declined to give more details.
The Ministry of Commerce said on its Web site that Carrefour, the world’s second-largest retailer, had posted a 21 percent jump in sales to 16.2 billion yuan ($2 billion) in 2004. $1=8.0641 yuan)

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