President Chain Store looks to China

President Chain Store Corp (統一超商), Taiwan's largest convenience store operator with more than 3,300 7-Eleven stores nationwide, said it will join with Japan's largest convenience-store chain and two Chinese partners to tap into the China market this year.

While a four-year project for the first 7-Eleven stores in Beijing has yet to materialize, there's no change to the company's plan to operate convenience stores in the Chinese capital this year, a company official said.

"Currently we are negotiating with our Japanese counterpart about the size of our share in the venture," said Wang Wen-hsin (王文欣), company spokeswoman.

Wang made the remark after 7-Eleven Japan Co said yesterday it will enter the Chinese market from spring this year through a joint venture with local firms.

The Tokyo-based company said in a statement that it established the US$35 million-venture, 7-Eleven (Beijing) Co, on Friday. It is planning to open several stores in Beijing, and expand operations in the surrounding area, according to an AFP report.

7-Eleven Japan said it will hold 65 percent of the venture, with a 25 percent share going to Beijing Shoulian Commercial Group (北京首聯商業集團) and 10 percent to China National Sugar and Alcohol Group Corp, the report said.