Six companies, including Carrefour, Huayi Brothers, Shanghai Huge Group, and Industrial and Commercial Bank of China, have signed strategic cooperative agreements to enter Huangpo, a peripheral city of Wuhan in Hubei province.
A representative from Carrefour told local media that as a peripheral city of Wuhan, Huangpo is a potential market with an advantageous location and an advanced portfolio. Its goal of creating a upgraded urban complex is in line with Carrefour's strategy to develop China's outer suburban markets. This is the first time that the international retailer is to open an outer suburban outlet in China.
With a business area of 16,000 square meters, the new Carrefour Huangpo store is expected to open in 2010.