Thailand’s Charoen Pokphand (CP) Group has said it is to expand in China in 2004 in response to strong demand there.
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The group said it would build on its three main business: food, retail and biotechnology, reported Reuters.
CP Group is a major shareholder in food firm CP Foods and convenience store operator CP Seven-Eleven.
“We are confident that China’s economy will grow further. Therefore, CP will focus on investments in China in particular,” CP chairman Dhanin Chearavanont was quoted by Reuters as saying.
Dhanin said the group planned to expand its Lotus supercentre chain to 90 outlets by the end of 2005, compared to 20 now.
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