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Carrefour and Wal-Mart Stores, two of the biggest
overseas retailers operating in China, each boosted sales more than 20 percent
last year as they continue to expand in one of the world's fastest-growing
retail markets.
Carrefour, Europe's biggest retailer and the No 1 foreign retailer in China by
sales, had a 20.9 percent sales gain from a year earlier to 16.2 billion yuan
(HK$15.27 billion) after the firm increased outlets to 62 from 41, the Commerce
Ministry said.
Sales at Wal-Mart, the world's biggest retailer, gained 28.8 percent to 7.6
billion yuan, with store numbers rising to 43 from 33. Wal-Mart ranks sixth of
eight foreign retailers operating in China, the ministry's Web site said.
Overseas retailers have been expanding in China as the nation opens a domestic
market of 1.3 billion people to foreign competition. Per capita disposable
incomes in urban areas rose 7.7 percent to 9,422 yuan last year and the
country's retail sales rose 13 percent to 5.4 trillion yuan.
Wal-Mart plans to open 15 new stores in China this year after the government
removed restrictions on foreign retailers to meet World Trade Organization
pledges, the company said.
Carrefour ranked fifth among China's top 30 retailers last year, and Wal-Mart
was No 20, the ministry said. The top 30 chains' combined sales rose 33 percent
to 384.6 billion yuan last year, it said.
Metro Group's China sales gained 14.3 percent to 6.4 billion yuan last year, as
the German retailer increased its store numbers to 23 from 18.
Two of the ``overseas'' retailers on the ministry list are owned by Hong
Kong-traded China Resources Enterprise. Sales of Suguo Supermarket rose 44.8
percent to 13.9 billion yuan, and sales at China Vanguard Super Department were
up 6.8 percent to 11 billion yuan. Suguo increased its stores to 1,345 from
1,162, while Vanguard increased its stores to 476 from 467.
Yum! Brands, operator of the Taco Bell, Pizza Hut and KFC restaurant chains, had
a 26.6 percent sales gain to 11.9 billion yuan last year after increasing
outlets in China to 1,400 from 1,100, the ministry said. China is one of
Louisville, Kentucky-based Yum's most profitable markets.BLOOMBERG
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