The world's largest convenience store company, 7-Eleven, plans to expand in China's southwestern market, the Chengdu Business News reported on Tuesday.

The newspaper said the company will invest in Chengdu city, and will open stores in Chongqing later this year.

In 2012, the company said it will start its franchise model in the Beijing market, which industry experts said will pave the way for the retailer to speed up its efforts to grow in the city. The move will pressure other convenience store chains, such as Lawson Co Ltd and FamilyMart Co Ltd.

7-Eleven has about 8,030 stores in the United States and Canada. It also has more than 40,000 7-Eleven and other convenience stores outside the US and Canada, according to the company's website.