CHINA: Wumart bullish amid foreign onslaught
Chinese retailer Wumart Stores has shrugged off the prospects of a slowing domestic economy and greater competition from foreign rivals and insisted it can offer value to consumers.
The just-food interview - Wumart Stores
The just-food interview – Wu Jianzhong, Wumart Stores
The global downturn is not just hitting developed, Western markets. The fast-growing, emerging markets of the East are also suffering – and China is no exception. One of the world's most buoyant retail markets in recent years, China is set to see competition in the sector grow even more intense, as retailers battle for ever-more cautious consumers. In this month's just-food interview, Wu Jianzhong, chairman of Wumart Stores, one of China's leading home-grown retailers, insists his company can stand up to the might of Wal-Mart and Carrefour.
CHINA: Tesco to expand in eastern China
Tesco intends to expand in China’s eastern provinces of Shandong and Fujian next year, the retailer has confirmed.
