According to Baidu Encyclopedia, Shanghai First Yaohan Co., Ltd. is the first Sino-foreign joint venture large-scale commercial retail enterprise in China. Located at No.501,Zhang Yang Road, Pudong New Area. 1991April, Wada Kazuo, president of Japanese Yaohan international circulation group, led a delegation to visit Shanghai, intending to establish a large-scale retail enterprise in Pudong with Shanghai No.1 department store.