China Resources Enterprise calls itself the biggest supermarket group in China. Though its hold on that title may not be secure yet, the state-owned company is already eyeing another retail sector: convenience stores.
Wang Weiyong, senior vice president of China Resources’ retail group, told beyondbrics that the company has its eye on the 11,000 petrol station convenience stores operated by PetroChina, many under the name uSmile.
“China Resources and PetroChina are both state-owned enterprises and we have had communications with their management team,” he said. “I proposed that they gave the business to us, but they said no and prefer to do it by themselves.”
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