IKEA to Invest 1 Billion RMB for Qingdao Store

IKEA, the beloved Swedish furniture and lifestyle company, recently announced the investment of one billion RMB towards constructing an IKEA store in Qingdao. The company is in the process of looking for a suitable location in the city for its store, and the current plan is for the store to open before the end of the year in 2014.

IKEA first entered the Chinese market in 1998, and has since opened stores in Beijing, Shanghai, as well as in Guangzhou, Shenzhen, Nanjing, Chengdu, Dalian and Shenyang. The company is also currently in the planning stages for opening stores in Tianjin, Wuxi and Wuhan.

See also: Cheap Tickets to the Qingdao Folk Museum until Feb. 13th