date:Oct 18, 2013
to divest the grocery retail business in the country.
China has overtaken the United States as the world's biggest grocery retail market. The market's value is forecast to reach $1.6 trillion in 2016, according to retail market analyst IGD.
The Chinese grocery market has witnessed soaring demand for new products, brands and retail concepts. The sector's growth is being propelled by rapid economic expansion, population changes and rising food inflation.
But global grocery retailers are finding