Carrefour's Indonesian exit will not affect China plans

Carrefour SA, the world's second-largest retailer by revenue, is to close its stores in Indonesia, but the move will not affect its expansion plans in China, officials said.

The move comes three months after it shut its shops in Singapore, and follows other closures around the world.

In 2005, it announced the sale of its operations in Japan and Mexico, followed by its stores in South Korea a year later, then Russia in 2009, and Thailand in 2010.

However, in China the business has continued to boom, it said.

Thierry Garnier, president and CEO of Carrefour SA China said earlier this month the company plans to invest in more stores in China and expand its food sales.

By April, the retailer, which entered the Chinese mainland in 1995, had 206 stores in 64 cities.