Vanguard, one of the biggest retail chain stores in China, has opened a new mart in Shenli Road, Benxi.
Its spacious shopping environment and various products have brought new business opportunities to Benxi's commercial development. The new mart covers an area of 8,000 square meters. Selling more than 20,000 kinds of goods, such as commodities, cultural and entertaining products, Vanguard's annual sales volume is expected to be RMB100 million. In addition, the new mart will create nearly 1,000 jobs for citizens of Benxi.
Vanguard is the first level profit centre of China Resources (Holdings) Co., Ltd., which is the biggest state-owned holding company in Hong Kong. Its major business includes big mart, commodity supermarket and convenience store. At the end of 2006, its sale volume reached RMB37.85 billion, ranking number one of top 30 chain supermarkets according to the Ministry of Commerce.
In March, 2007, Vanguard acquired the influential Tianjin Home World. Since then, the number of Vanguard's chain stores have reached 2,250 and its employees number over 100,000, which makes it the biggest general merchandise chain company in China.