CHINA Costco to open new store in China's Suzhou

CHINA

Costco to open new store in China's Suzhou

Xinhua

19:41, April 09, 2020

0f0b5d70b3274722aa51dd37dbff886f.jpg

File photo

NANJING, April 9 (Xinhua) -- U.S. retail giant Costco will open a new store in the city of Suzhou, eastern China's Jiangsu Province, according to the management committee of Suzhou New District.

Costco's subsidiary in Suzhou Thursday bought a piece of land in Suzhou New District at a cost of over 142.5 million yuan (about 20.2 million U.S. dollars) for a warehouse store with a floor area of over 50,000 square meters.

Costco established its subsidiary in Suzhou in January, with a total investment of about 1.27 billion yuan.

The retail giant opened its first store on the Chinese mainland last August in Shanghai's Minhang district on the west side of the Huangpu River, which has since attracted huge crowds of shoppers.

In February, it announced the start of the construction of its second store in Shanghai.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue