Tesco plans to open 10 stores in China a year to step up its global presence.

The announcement comes after the UK number-one retailer opened its first own-brand store in Beijing last week.

The supermarket giant also owns the Le Gou Hymall stores in China through its joint venture Ting Cao, in which Tesco has a 90 per cent stake.

The retailer said it plans to bring the 46 Ting Cao stores under its own brand.

"Over time we plan to apply to rebrand these stores so they carry the Tesco name alongside Le Gou,” a statement said.

Tesco has its growth focus on the areas surrounding Beijing, Shanghai, and Guangzhou in the south.

The aim is to reach out for new markets to offset the prospect of slowing consumption in the UK.

Topics