CHINA: Metro to invest in expansion in China
German retail giant Metro has said it plans to spend around €600m (US$688.3m) on expanding its operations in China by 40 stores during the next five years. Chief executive Hans-Joachim Korber said he did not see other international retailers such as Carrefour and Wal-Mart as competition in China, because Metro focuses its sales toward business customers, such as restaurants and hotels, rather than individual consumers.
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