Carrefour Reveals Expansion Plans In China, Focuses On Lower-Tier Cities

French retailer Carrefour said it plans to expand its business presence in China by opening stores in 30 new cities in the next three years. While the retailer has been reducing or shutting down its operations in other markets, Carrefour has been aggressively expanding in China and Brazil. In 2012, Carrefour reported operating revenues in China grew 10.8 percent to €5.58 billion; however, at constant exchange rates, like-for-like sales, excluding fuel, dropped 5.1 percent. It is currently operating 220 hypermarkets across 65 cities in the country.