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October 2, 2009

CHINA: Tesco signs lease on Dongying store

Tesco has signalled plans for further expansion in China's Shandong province with a lease agreement on a store in the city of Dongying.

Tesco has signalled plans for further expansion in China’s Shandong province with a lease agreement on a store in the city of Dongying.

The UK retail giant, which has 66 stores in China, told just-food yesterday (1 October) that it had secured a lease on a store in Dongying – one of China’s so called “third-tier” cities – although it had yet to open a store there.

Tesco is looking to expand its operations in Shandong and Fujian provinces and already has stores in China’s second-tier and third-tier cities, into which both domestic and foreign retailers are looking to expand.

The company, which is competing with the likes of Wal-Mart and Carrefour, as well as domestic chains including Wumart Stores, is also trialling its Express format in China’s north-east.

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