As one of the first German companies to enter the Chinese market, retail giant Metro Group said it will continue to invest and expand in China this year.
In 2012, a dozen new stores opened in China. As a result, sales of Metro Cash & Carry China in 2012 increased by 23 percent to 1.89 billion Euro ($2.44 billion).
"China is indeed one of the eight focus countries within our 29-country international portfolio which clearly exhibits our strong commitment to China as well as high confidence in the prospects of the market," Olaf Koch, chairman of the management board and CEO at Metro Group, said.
According to Koch, China is one of the most important markets for Metro Group. "That's why we took the initiative to enter the market in 1996 as a pioneer among international retailing groups," said Koch. "The steady and rapid economic growth as well as the profound transformation of the distribution and trade sector in China offer Metro exceptional business potential to tap."
Talking about its successful experience in the Chinese market, Koch said the Chinese spirit of relationships is based upon mutual interests and a common understanding. "This also gives it an emotional perspective," he said.
