Aeon to set up a Chinese subsidiary in Beijing

In June this year Japanese retailer Aeon Co will set up a wholly-owned Chinese subsidiary in Beijing, named Beijing Aeon. Aeon intends to open a shopping centre in Beijing in 2008, the Japanese company said in a statement (in Chinese only) today.

Aeon's unit Aeon Stores (Hong Kong) Co, opened the first overseas supermarket of Aeon in Hong Kong in 1987. The unit currently operates 22 supermarkets mainly in southern China. The entry of Aeon in Beijing is aimed at building an operating base in northern China. Aeon plans to open around 30 outlets in northern China in the next five years.

Beijing Aeon will have a registered capital of 100 mln Chinese yuan (US$13mn/€9.6mn). The workforce of the company is expected at 600.

(Source: All Data Processing)