Jean-Luc Tuzes, President of Metro Cash & Carry, recently announced that Metro planned on spending 600 million euros more in China on 40 new stores over the next 3 to 5 years (on average 10 new stores each year).

Tuzes told reporters if the plan was to be substantiated, Metro would make its presence to Beijing, Guangzhou and Shenzhen before the end of this year. Metro currently owns 24 stores in 20 cities across China. It opened 5 new stores in 2004. Tuzes said Metro aimed to open 8 new stores across China with a special focus on northwest and traditional industrial bases in the northeast.

Source: China International Finance