US-based convenience store giant 7-Eleven has announced that it has finalised an area licence agreement for Beijing and the surrounding area in China with a joint venture group.
The joint venture is currently comprised of Seven-Eleven Japan, Beijing ShouLian (Capital Allied) Commercial Group and China National Sugar & Alcohol Group Corporation. The first 7-Eleven store is expected to open in Beijing on 15 April and additional stores are expected to open later in April 2004.
Seven-Eleven Japan announced earlier this year that it had formed a joint venture to break into the Chinese market.
Dallas, Texas-based 7-Eleven operates or franchises approximately 5,800 stores in the US and Canada and licenses approximately 20,500 7-Eleven stores in 17 countries and territories worldwide.