Costco opens first store on Chinese mainland

The world's second-largest retailer, Costco Wholesale Corp, opened its first brick-and-mortar store on the Chinese mainland in Shanghai on Aug 27.

The 14,000-square-meter store embraced surging customers on its first day, with customers spending up to two hours queuing to check out or waiting three hours to find a spot among the 1,200-space parking lot. Costco membership costs 299 yuan each year.

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