Chinese stores look to Europe
1 June 2003
Chinese retailers are beginning to look to overseas markets to boost earnings, according to Shanghai Daily.
Hualian (Group) Co plans to set up a shopping mall in Bucharest, Romania, in two years. The mall will contain a department store and a hypermarket and about 80 per cent of the goods sold will be Chinese-made.
Lianhua Supermarkets plans to expand the range of its own branded products stocked by Carrefour outlets in Europe. Carrefour stores in Paris already stock Lianhua vermicelli, red pepper sauce, biscuits and mushrooms. Meanwhile, Lianhua's planned US$100m listing in Hong Kong has been
delayed by at least a month because some of its management failed to meet listing requirements,
said South China Morning Post.
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