Carrefour to open more China stores
French retailer Carrefour plans to open more stores in China.
Carrefour China president and CEO Thierry Garnier says the company wants to open more than 20 stores annually across China.
Having entered China in 1995, Carrefour currently operates 228 stores there.
Its biggest rival, American retailer Walmart, also says it remains committed to the Chinese market despite the challenges it faces there. It says it will open 110 new stores across China over the next three years.
Meanwhile, British retailer Tesco has been reportedly finding it too tough competing with local retailers like Sun Art Retail Group and China Resources Enterprise and had closed six stores there last year.