The second business delegation from Kunming to Taiwan has signed an agreement with Kangcheng Investment of Ruentex Group on the joint development of four new Rt-Mart supermarkets in Kunming.
Under the agreement, the two parties will invest CNY800 million to set up four Rt-Mart stores, which will increase the number of Rt-Mart stores in the city to six. Prior to this, the first business delegation from Kunming signed an agreement with the company in March 2009 to build two Rt-Mart stores in the Guandu district of the city.
The four new stores are reported to be Qicai Junyuan supermarket, Lv supermarket, Beijing Road supermarket, and Hongmiao supermarket.
One of the top enterprises in Taiwan, Ruentex Group has 37 companies in seven major industries, including textiles and apparel, construction and development, the financial industry, medical and pension, distribution, environmental protection, and international trade. So far, it has opened 102 supermarkets in 60 cities in mainland China, with annual revenue of CNY33.56 billion in 2008.