President Chain Store Corporation, the Taiwanese operator of 7-Eleven convenience stores, is reportedly planning to establish headquarters in Shanghai to aid expansion in the Chinese market.

The company headquarters in Chengdu are set to become the focus of the chain’s hypermarket business.

According to a report in the Commercial Times, C.J. Hsu, President Chain Store’s president, signalled the company’s intentions when he told the paper that the group’s pre-tax profit could reach TWD5bn (US$151m) on revenues of TWD100bn this year.

President posted a pretax profit of TWD4.63bn on a revenue of TWD93.6bn for 2005.