CARREFOUR OPENS NEW STORE IN GUANGZHOU, CHASING WAL-MART

AsiaInfo Services, June, 2005

AsiaInfo Services 06-10-2005 Carrefour Opens New Store in Guangzhou, Chasing Wal-Mart GUANGZHOU, Jun 10, 2005 (SinoCast via COMTEX) -- France-based Carrefour Group, a world's leading retailer, opened its 61st supermarket in Guangzhou, capital of Guangdong Province, as an effort to catchup with US-headquartered Wal-Mart, a powerful rival in the Chinese market. Presently, Carrefour is operating eight stores in Guangdong while Wal-Mart is operating 13.

As the most import retail market in South China, Guangdong Province has been a battlefield for Chinese and international retailers. An informed person disclosed that Carrefour Group would sign agreements with Goldman Sachs Group, a global financial giant, to start another store in a Guangzhou supermarket center,...

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