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• The Financial Times reports that Tesco, which already operates more than 50 hypermarkets in China through a joint venture with a local operator, plans to open its first Tesco Express store there next month with a unit in Shanghai.

FT writes, “Tesco, lagging behind international rivals Wal-Mart and Carrefour in the race to roll out hypermarkets across China, has adopted a multi-format approach in some of its other markets such as Thailand, Hungary and South Korea. The retailer, which came to China nearly a decade after Carrefour, has earmarked the country as one of the markets, alongside Turkey and the US, that will be crucial to its long-term success.” And now, China appears to be the next place where Tesco will adopt the multi-format strategy.

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