Business Intelligence on Retailing, Franchising, and Consumerism in China

Mofcom Inks Deal With Tesco For Sustainable Retail Development

British retail giant Tesco has signed a letter of intent with the Department of Commercial Services Administration of the Ministry of Commerce of China to jointly promote the sustainable development of the Chinese retail industry.

According to local media reports. the signing of the letter of intent shows that Tesco has reached a consensus with the Chinese government about the sustainable development of the retail industry. Meanwhile, it sets a good example for the cooperation between enterprises and the government. This move marks an active measure of Tesco's realization of its environment-related strategic goal, which is to achieve zero carbon emissions by 2050.

With the signing of the letter of intent, Tesco will implement exchanges with local government departments, retailer organizations, industry associations, suppliers, and consumers to share technologies and environmental ideas concerning the sustainable development of the retail industry. Tesco will gradually realize its energy-saving and carbon emission targets in China to become the most environmental retailer in the country.

Moreover, it will encourage and stimulate more customers and companies to participate in energy-saving and carbon emission activities to lead a green consumer revolution.

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