Costco set to open new store in China's Suzhou city

BEIJING (Reuters) - U.S. retail giant Costco will open a new store in China's eastern city of Suzhou, near Shanghai, state media reported on Thursday.Costco's subsidiary in Suzhou on Thursday bought a piece of land in Suzhou New District at a cost of more than 142.5 million yuan ($20.2 million), according to the management committee of Suzhou New District. The plan is for a warehouse store with a floor area of more than 50,000 square meters to be built on the site.Costco is beefing up its..