Taiwan-based supermarket retailer Rt-Mart has submitted an initial public offering application to Hong Kong Exchanges and Clearing Limited, aiming to get listed within 2011 and gain USD1 billion for store expansion.

Taiwanese supermarket retailer Rt-Mart reportedly plans to raise up to USD800 million through an initial public offering in Hong Kong.

Taiwanese supermarket retailer Rt-Mart has signed an agreement with Liaoning Xinggong Group to open a new supermarket in Longgang district, Huludao, Liaoning.

Taiwanese supermarket retailer Rt-Mart recently signed an agreement with the government of Yushui district, Xinyu, Jiangxi province to open a new supermarket.

Although it entered the Chinese market 13 years ago, the development of South Korea's E-Mart has been slow. However, its newly appointed China president has stated that it will accelerate its expansion and will open 100 new stores by 2015.

According to reports in local media, Taiwan-based supermarket retailer Rt-Mart plans to open its first outlet in Beijing and this new supermarket will be located in Beijng's Chinatown Shopping Plaza.