Report: Tesco to open first store in China

Cheshunt, England Tesco is set to open a new supermarket in Hexi New City, Nanjing, China, with an expected opening date of Dec. 18, according to a report in ChinaRetailNews.com.

The new store, which will operate in the Nanjing Wanda Plaza, is the result of a joint venture between Tesco and the Ting Hsin chain.

By purchasing a 50% stake in the Ting Hsin hypermarket chain, which has 25 locations, Tesco is finally gaining a foothold in the Chinese market. Ting Hsin is the largest food supplier in China and owns the Hymall chain of stores, the article said.

Tesco is no stranger to international operations. It currently has a presence in 12 countries, including Hungary, Poland, South Korea, Taiwan and Japan.