Han Zheng meets Kingfisher Chairman
8/10/2003 17:45
On October 7, Shanghai Mayor Han Zheng met Sir Francis Mackay,
Chairman of Kingfisher Plc. at the Jinjiang Grand Hall.
"Rapid economic
development in Shanghai over the past couple of years has largely improved local
residents' living standard, with most residents enjoying better housing
conditions," Han said.
"Great improvement in housing conditions has boosted
the local architecture and home furnishing industries, with annual sales volumes
of building material reaching 50 billion yuan (US$6 billion) in the city," Han
said.
Local residents are willing to spend money on home furnishings, so
home-fitting work should meet various kinds of personalized requirements, he
said.
Han expected Kingfisher Plc, Europe's leading home improvement
retailer, to enjoy booming business in Shanghai, and welcomed its move to the
city.
"Kingfisher is very glad to take part in the economic construction of
China, and we have currently opened 13 building-material chain stores in China,
with four in Shanghai," Sir Francis Mackay said. "Two chain stores are ready to
be built in Shanghai now," he said.
"We will have at least 75 building
material chain stores in China by 2008, with ten in Shanghai," he
added.
Kingfisher Plc, the largest home improvement retailer in Europe,
opened 1,400 stores in 17 countries worldwide, with its subsidiary B&Q
reporting annual export volumes increasing from more than US$100 million to
nearly US$1 billion after it launched operations in Shanghai in
1999.
Wendy Zhang/ Shanghai Daily news
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