Yonghui, Parknshop and Tencent to jointly establish JV

BEIJING, Oct. 25 (Xinhua) -- China's hypermarket operator Yonghui Superstores Co Ltd, supermarket giant Parknshop China, and China’s tech giant Tencent recently signed agreement to jointly establish a sino-foreign joint venture (JV) in China, Shanghai Securities News reported on Wednesday.

Yonghui, Parknshop and Tecent will have 50 percent, 40 percent, and 10 percent of stake in the JV, respectively.

The deal would be beneficial to Yonghui’s performance and development in south China's Guangdong province. (Edited by Jiang Feifan, Niu Huizhe)