G7Mart convenience stores hit local retail market

The G7 Trading and Service Joint Stock Company on August 5 launched its G7Mart retail network, and opened 500 stores to customers in provinces and cities across the country.

The G7Mart chain upgraded traditional groceries into convenience stores as part of the company's efforts to build a strong domestic retail system to compete against foreign retailers.

The company has cooperated with more than 200 producers to supply products for its G7Mart stores. It also plans to fix common prices for goods in all of its stores nationwide.

Under a 395 million USD project, the company will expand its G7Mart network to 7,000 stores, 300 distribution centres, seven trade centres and seven retail supermarkets by 2010.-Enditem