7-Eleven opens first Chinese store

Convenience stores chain 7-Eleven has just opened its first Chinese store in Beijing. The store is run by Seven-Eleven (Beijing) Co., a joint venture 65 percent owned by Seven-Eleven Japan, 25 percent by Beijing ShouLian (Capital Allied) Commercial Group Co., and 10 percent by China National Sugar & Alcohol Group Corp. 7-Eleven plans to open 50 more stores in China this year and 500 by 2009.