Reporters' Log

Suning to open 220 stores in 2010

By Ding Qingfen and Li Weitao (chinadaily.com.cn)
Updated: 2009-03-06 18:32

China's second-largest consumer electronics retailer Suning plans to open 220 stores in 2010, as part of its efforts to dethrone its larger rival Gome, Chairman Zhang Jindong told China Daily on Friday on the sidelines of the Chinese People's Political Consultative Conference (CPPCC).

Related readings:  Suning's net profit up 48% in 2008  Consumer: Suning looks to dethrone Gome  Suning Appliance to open at least 200 stores in 2009

That could bring the total number of Suning stores to about 1,300 by 2010. Suning currently has about 850 stores across the country and plans to open 200 stores this year.

Gome has said it plans to close some stores this year, bringing their number to roughly 1,300. Analysts said a scandal involving Gome founder Huang Guangyu has overshadowed the company's expansion plans. Huang has been detained and is under investigation for his alleged role in a stock manipulation scandal.

Cash-strapped Gome has been seeking to sell stakes to strategic investors in recent months.

Central Economic Work Conference

• Interest Rate Cut
• 30 Years of Reforms
• Coping with Financial Crisis
• Housing in China
• 2008 Tsinghua Management Global Forum
• more

Hot Words

• 政府注資 pump priming
• 軟環境 soft environment
• 糧食最低收購價 crops' minimum purchase prices

• 保八 Eight Percent Protection
• 以人為本 Put People First
• 農民企業家 Farmer-turned-entrepreneur
• 窗口指導 window guidance
• 下崗再就業 Re-employment after being laid off
• more

From Foreign Press

• German media give full coverage to Premier's report
• Overseas press praise China's 8% economic growth
• German media: Economy tops agenda at NPC session
• From the foreign press
• World media keeps close watch on 'two sessions'
• more

Letters

• Corruption top issue for public
• China adopts Food Safety Law
• China's economic growth in 2009
• more