Japan’s largest supermarket retailer Aeon plans to triple its stores in China over the next five years, the Economy Daily reported. It has 1,360 outlets in Japan, but only 35 in China. However, according to its chief representative in China, sales growth has stalled in Japan due to a declining and aging population. The company is looking to other Asian markets for expansion, which currently make up less than 5% of total revenues. Chinese vice premier Wu Yi predicted China was very likely to overtake Japan as the world’s No 2 goods consumer by 2010. Under WTO accession commitments, international retailers are allowed to do business in China without teaming up with a domestic partner. American retail giant Wal-Mart has 78 stores in China, while the world’s number two retailer,  French Carrefour, has 95.