Chinese billionaire eyes major push into country's retail market

07/17/2013 | Bloomberg Businessweek

Chinese billionaire Zong Qinghou plans to develop or acquire as many as 100 retail centers across China. A possible initial public offering could be used to fund some of these projects. The plans call for some 100 retail centers over the next three to five years. "We will need to make profit on our retail business for three consecutive years if we want to sell shares and we will need to see whether there is still demand for our IPO by that time," Zong says.

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