Editing Tesco (section)

==== China ====
In September 2004, Tesco acquired a 50% stake in the Hymall chain from [[Ting Hsin]]. In December 2006 it raised its stake to 90% in a £180&nbsp;million deal.<ref name="hemscott2006">{{cite web|url=http://miranda.hemscott.com/servlet/HsPublic?context=ir.access&ir_option=RNS_NEWS&item=38141457174563&ir_client_id=622|title=TESCO Extends Partnership in China|publisher=London Stock Exchange's Regulatory News Service|date=12 December 2006|access-date=17 December 2006|archive-date=13 July 2007|archive-url=https://web.archive.org/web/20070713035319/http://miranda.hemscott.com/servlet/HsPublic?context=ir.access&ir_option=RNS_NEWS&item=38141457174563&ir_client_id=622|url-status=live}}</ref>

In 2007, Tesco began opening new stores under its name in the country, beginning with [[Beijing]].<ref>{{Cite web|url=https://www.theguardian.com/business/2006/dec/13/china.supermarkets|title=Tesco spends £180m to take control of Chinese joint venture|first=Jonathan|last=Watts|date=13 December 2006|via=The Guardian}}</ref> In its peak, most of their stores were based around [[Shanghai]]. Tesco had a large store in Weifang, Shandong province, and a further two-floor store in Taizhou, Jiangsu province. Tesco had been increasing its own brand products into the [[Economy of China|Chinese market]] as well as introducing the Tesco Express format.<ref>{{cite news|url=http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article3671705.ece|title=Tescco Express rolls into China|work=The Times|location=UK|date=21 April 2008|access-date=21 April 2008|archive-date=7 September 2008|archive-url=https://web.archive.org/web/20080907084044/http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article3671705.ece|url-status=dead}}</ref>

In August 2013, Tesco announced that they were in talks to merge their Chinese operations with the state-run China Resources Enterprise (CRE) to create a joint venture, which would combine their 131 stores with CRE's nearly 3,000 outlets. The venture was officially announced on 2 October with Tesco holding a 20% stake<ref>{{Cite web|url=https://www.tescoplc.com/tesco-and-cre-to-create-the-leading-multi-format-retailer-in-china/#:~:text=Following%20the%20announcement%20on%209,leading%20multi%2Dformat%20retailer%20in|title=Tesco and CRE to create the leading multi-format retailer in China}}</ref> and was closed in May 2014.<ref>{{cite news|url=https://www.bbc.co.uk/news/business-27615404|title=Tesco and China Resources Enterprise reach retail deal|work=BBC News|access-date=18 October 2014|archive-date=26 September 2014|archive-url=https://web.archive.org/web/20140926030414/http://www.bbc.co.uk/news/business-27615404|url-status=live}}</ref>

In February 2020, Tesco announced it would completely exit the Chinese market and sell its 20% stake in the venture to CRE for £275 million.<ref>{{cite news|url=https://www.reuters.com/article/us-tesco-china/tesco-completes-china-exit-with-357-million-stake-sale-idUSKCN20J0UF|title=Tesco completes China exit with $357 million stake sale|work=Reuters|location=US|date=25 February 2020|access-date=25 September 2022|archive-date=25 September 2022|archive-url=https://web.archive.org/web/20220925222054/https://www.reuters.com/article/us-tesco-china/tesco-completes-china-exit-with-357-million-stake-sale-idUSKCN20J0UF|url-status=live}}</ref>