CR Vanguard To Open New Outlets In Haikou

China Resources Vanguard is planning to open two to three large-scale shopping centers in Haikou.

Xu Tang, deputy secretary of the Municipal Party Committee and mayor of Haikou City has met the COO of CR Vanguard, Guan Hongjie, and discussed investment by CR Vanguard in the business and trading sectors of Haikou.

Xu said that in recent years, many large retailers such as RT-Mart and Carrefour had entered the Haikou market and the consumer market in the city is developing well and he hoped the entry of CR Vanguard would bring more benefits to Haikou's local people. At the same time, Xu required the relevant departments to offer support in the site selection of CR Vanguard.

China Resources Vanguard is the retail subsidiary of China Resources Holdings. In 2007 China Resources Vanguard realized sales of CNY50.2 billion with 2,450 retail outlets across China, covering more than 80 cities in 15 municipalities and provinces.