Metro plans to open 100 stores in China by 2015

A customer walks out of the store of Media Markt in Shanghai, east China, Nov. 29, 2010. German retailer Metro Group, teamed up with Foxconn International in a 200-million-U.S. dollars joint venture, opened Media Markt China, its first consumer electronic shop in China, in Shanghai, on Nov. 17. Metro plans to open 10 stores in Shanghai by 2012 and 100 stores throughout China by 2015, said Eckhard Cordes, chief executive officer of Metro Group. China began to collect city maintenance and construction taxes and education-supporting taxes from foreign-funded companies, and individuals with commercial interests in the country, beginning Wednesday in a decision by the Chinese government. Zhang Hanya, chairman of the Investment Association of China (IAC) told Xinhua Tuesday, saying the introduction of the new taxes did not mean the environment to invest in China was worsening, adding taxes were not the only thing companies looked at when investing in China. "It also depended on the country's huge population of 1.3 billion, its huge market, and growth potential," Zhang said. (Xinhua)
A customer tries a camera in Media Markt in Shanghai, east China, Nov. 29, 2010. German retailer Metro Group, teamed up with Foxconn International in a 200-million-U.S. dollars joint venture, opened Media Markt China, its first consumer electronic shop in China, in Shanghai, on Nov. 17. Metro plans to open 10 stores in Shanghai by 2012 and 100 stores throughout China by 2015, said Eckhard Cordes, chief executive officer of Metro Group. China began to collect city maintenance and construction taxes and education-supporting taxes from foreign-funded companies, and individuals with commercial interests in the country, beginning Wednesday in a decision by the Chinese government. Zhang Hanya, chairman of the Investment Association of China (IAC) told Xinhua Tuesday, saying the introduction of the new taxes did not mean the environment to invest in China was worsening, adding taxes were not the only thing companies looked at when investing in China. "It also depended on the country's huge population of 1.3 billion, its huge market, and growth potential," Zhang said. (Xinhua)