China's Ministry of Commerce has made Seven-Eleven the first overseas retailer to obtain a franchise certificate in China.
Seven-Eleven Beijing Company Ltd is a joint venture with Seven-Eleven Japan Co Ltd.
The company announced in May 2004, when its first China outlet opened, that it would launch 100 new stores within a year, and 500 by 2010. However, only 27 Seven-Eleven convenience stores have opened so far.
Seven-Eleven Beijing's Deputy President Li Yong told local media that he attributed this to the limitations on Seven-Eleven's franchise model.
Foreign companies were forbidden to use the franchise model in China until Feb 2005, and they still require certification.
The most recent financial statement from Seven-Eleven Beijing Co Ltd showed that the venture, with total assets of over RMB200 million at the end of last June, made a net loss of RMB7 million in the first half of last year.
Guys, 7-11s have been around China much earlier than 2004. Who wrote this?
Actually, they have been working since 2002 to arrange the permits, but only on January 2, 2004 did they get the licenses to open their first shop on the mainland. Check this company release for more details.
7-11 has 1,011 shops already in greater China and has been in the Mainland for many years in South China.. in Guangdong province.
Just check their website and you will find the facts.
http://www.sej.co.jp/english/company/g_stores.html
The Japan Seven & I deal in Beijing that you are reporting about is completely different.