Taiwan’s Ruentex Group and China’s Sinopec Corporation are planning to open 300 convenience stores within the latter’s petrol stations.
The two companies forged a joint venture in August and are currently jointly operating eight Easy Joy convenience stores in Shanghai as a trial.
The plan comes at a time when Sinopec has sold 30 per cent stake in its retail unit, which operates 30,000 petrol stations and 23,000 convenience stores, to 25 investors including Fosun International for 107.094 billion yuan ($17.44 billion).
Ruentex also runs around 600 convenience stores under the C-Store brand and 300 hypermarts in China under Sun Art Retail Group, a JV with France’s Groupe Auchan.
