China's Suguo Reports 10% Growth In 2009

Nanjing-based supermarket chain Suguo has announced that its sales increased by 10% to CNY33 billion in 2009, despite the global economic crisis.

At the same time the company maintained the rate of its network expansion in 2009, opening 120 new outlets and increasing its total number of retail sites to 1,900.

According to Ma Jialiang, the chairman and general manager of Suguo, facing the unfavorable market environment, enterprises should turn challenges into opportunities. He added that by sticking to the promise of "no layoffs, no salary reduction", Suguo had stimulated the enthusiasm of its 50,000 employees and promoted the rapid recovery of the company.

Ma told local media that the company plans to add Jiangxi and Hubei into its retail network.