Major British multinational retailer Marks & Spencer announced plans to enter key cities in China as part of its investment plans for Asia this year.

The British retailer said it will enter key Chinese cities, including Beijing and Guangzhou, and completely modernize existing stores in the mainland and in Hong Kong.

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However, the investment plans for China also include the shutting down of five supporting stores, including the M&S Changzhou Wanda Plaza, Changzhou and M&S Wuxi Jiangyin Wanda Plaza, Wuxi next week.

"Last year, we reaffirmed our commitment to our Greater Chinese business and set out clear strategic plans. Today, we can share more details of our continued investment across our priority markets of China, Hong Kong and Macau," said Patrick Bousquet-Chavanne, executive director of Marketing & International.

He added that the investment includes the modernisation of Marks & Spencer flagship stores, entering new key cities, growing Hong Kong Food store portfolio and expanding its reach across China through new sites on TMall.com and JD.com.

Aside from entering key Chinese cities, such as Beijing and Guangzhou, this year, the company said it will also continue to invest in its existing flagship store portfolio, including the complete modernization of its flagship store on West Nanjing Road in Shanghai during the autumn.

Marks & Spencer opened its first store in China in 2008 and its first Hong Kong store at the Ocean Centre shopping mall in May 1988.

Today, the company has 18 stores in Hong Kong.

Marks & Spencer launched its online flagship store on TMall.com in January 2013 offering clothing and food products. This was followed by the launch of its wine E-shop on JD.com in May 2014.

The British retailer's investment plan for China was announced even as major global retailers that entered China in the past years have already shut down operations in the country due to stiff competition and the popularity of online shopping in the mainland.

TagsMarks & Spencer, Marks & Spencer China, china retail