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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China appliance chain eyes rural expansion AFP - Wednesday, March 25 BEIJING (AFP) - - China's second-largest home appliance chain Suning is planning a massive expansion into rural markets, more than doubling its number of stores and overtaking rival Gome, state media said Tuesday. ADVERTISEMENT Suning will open at least 1,000 stores in medium-sized cities, targeting nearby rural populations as it takes advantage of new policies aimed at boosting domestic consumption, the China Daily reported. "Suning will open at least 1,000 stores in the third- and fourth-tier cities within five years," company president Sun Weimin was quoted as saying. The company hopes that reaching out into the countryside will help it gain the upper hand over Gome, the industry leader which has 1,300 stores nationwide, the paper said. Suning has 812 stores across the country and late last year announced plans to open another 200 in 2009. It is now betting on a new government programme to subsidise farmers' purchases of home appliances, the China Daily said, adding that the rural market had more potential than urban areas. More than 70 percent of families in the countryside have an annual income of more than 5,000 yuan (732 dollars), according to a recent survey of 15,000 people by Suning and a Beijing research firm, the paper said. "The survey is a positive signal and will help us to better develop the market," the China Daily quoted Sun as saying. The cheapest laptop on Suning's website is priced at 2,297 yuan. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy US STOCKS SNAPSHOT-Wall St falls as energy shares, banks slideReuters - 56 minutes ago Wall Street drops at open after big run-upReuters - 2 hours 16 minutes ago US STOCKS SNAPSHOT-Wall St drops at open after big run-upReuters - 2 hours 17 minutes ago Fed's Evans: U.S. growth should resume this yearReuters - Wednesday, March 25 Related Articles: Business US STOCKS SNAPSHOT-Wall St falls as energy shares, banks slideReuters - 56 minutes ago Chile Sonami sees 2009 copper output at 5.4 mln TReuters - 58 minutes ago Wheat, corn, oats futures fall on the CBOTAP - 1 hour 1 minute ago Wall Street falters on energy shares and profit takingReuters - 1 hour 2 minutes ago Dayton, Ohio, job fair expected to draw a crowdAP - 1 hour 3 minutes ago Enlarge Photo China appliance chain eyes rural expansion Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Red meat raises death risk, white meat lowers it AIG to give back 50 mln in bonuses: officials Alaska volcano erupts five times British reality TV star Jade Goody dies of cancer AIG to give back $50 mln in bonus cash View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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