According to Hefei Foreign Trade and Economic Cooperation Bureau, Tesco's first store in Hefei will start business by the end of 2008 and the company is planning to open another five stores in the city.
A representative from Hefei Foreign Trade and Economic Cooperation Bureau says that to further strengthen the communication and understanding, to promote the progress of the project, vice-president of Tesco China Zhuang Nanbin has visited and talked with the government about the progress of the project and a long-term investment and development plan in Hefei.
In 2004, Tesco entered China with a joint venture. At the end of 2006, the company began its independent operation and owns 54 stores in China at present. In May 2007, Tesco decided to build its first store in Hefei. The project, which costs US$5 million and will start business within 2008, is also the company's first store in Anhui province.