Tesco plans joint venture to develop shopping centres in China

03/15/2011 | ChinaRetailNews.com

Tesco and a financial group are planning to invest about £30 million each in a joint venture aimed at developing shopping malls in China. Tesco, which owns 93 hypermarkets and a dozen Express stores in China, is aiming to bolster its presence in the Asian nation. The company plans to develop shopping malls in Fuzhou, Xiamen and Shenyang, according to a statement from Tesco.

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