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Carrefour and Wal-Mart gain in China retail sales

Raking it in * Carrefour: 20 percent sales gain to 7.8 billion yuan * Suguo Supermarket Co: up 43 percent to 7 billion yuan * China Vanguard Super Department Co: up 8 percent to 5.4 billion yuan * Wal-Mart: up 32 percent to 3.7 billion yuan * Metro Group: up 13.8 percent to 3.3 billion yuan

Carrefour SA and Wal-Mart Stores Inc, two of the biggest overseas retailers operating in China, reported sales gains in the first half of this year as they continue to expand store outlets in one of the world's fastest-growing retail markets.

Carrefour, Europe's biggest retailer and the No. 1 foreign retailer in China by sales, had a 20 percent sales gain from a year earlier to 7.8 billion yuan (US$942 million) after the Paris-based company increased outlets from 39 to 50, China's Commerce Ministry said on its Web site.

Sales at Wal-Mart, the world's biggest retailer, gained 32 percent to 3.7 billion yuan, with store numbers rising from 27 to 39. Bentonville, Arkansas-based Wal-Mart ranks fourth of six foreign retailers operating in China, the ministry said.

Overseas retailers have been expanding in China as the nation opens a domestic market of 1.3 billion people to foreign competition. Urban disposable income rose 12 percent to US$582 in the first half.

Wal-Mart plans to open 20 new stores in China next year, with three to be located in Shanghai, the Oriental Morning Post reported yesterday, citing the company.

Carrefour ranked fifth among China's top 30 retailers in the first half, and Wal-Mart was No. 17, the ministry said.

The top 30 chains had combined sales growth of 38 percent, rising to 170.5 billion yuan in the first half, it said.

Metro Group's China sales gained 13.8 percent to 3.3 billion yuan in the first half, as the German retailer increased its store numbers to 20 from 17, the ministry said.

Two of the "overseas" retailers on the ministry list are owned by Hong Kong-traded China Resources Enterprise Ltd, the business arm of China's foreign trade ministry. Sales of Suguo Supermarket Co rose 43 percent to 7 billion yuan, and sales at China Vanguard Super Department Co were up 8 percent to 5.4 billion yuan. Suguo increased its stores from 1,001 to 1,236, while Vanguard reduced its number of stores from 467 to 450.
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