Tesco operates in China

Tesco, one of the British leaders in office product distribution, has concluded an agreement with the Chinese Ting Hsin Group to bring 50 to 90% participation to the Chinese joint company Ting Cao for about 267 millions of Euros. This expansion of the British distributor in one of the largest and most dynamic consumption markets should allow a quick growth of Hypermall, counting today 44 hypermarkets, in its objective to develop in three regions of the country. The opening of the first store in the Chinese capital is scheduled for the beginning of next year. With its investment in Malaysia, and its operation in the Indian market, Tesco will count by the end of the year 60% of its sales areas overseas, and will gain 20% of its profits on the international operation.