BEIJING (AP) -- Seven-Eleven Japan Co. will open its first store in Beijing on April 15, the first of five outlets to begin operations in the Chinese capital before the end of May, the company said Tuesday.

The $70 million effort will be a joint venture between Seven-Eleven Japan, Beijing Shoulian Commerce Group Corp. Ltd. and China National Sugar & Alcohol Group Corp.

Seven-Eleven Japan will hold a 65 percent stake, Beijing Shoulian 25 percent and China National 10 percent.

"Such a joint venture will allow China and Beijing to introduce advanced management systems to convenience stores," the statement said.

Seven-Eleven Japan says it has now has 634 outlets in China. A separate company, controlled by Dairy Farm of Hong Kong, operates 150 7-Eleven stores in the southern province of Guangdong.

The joint venture in Beijing follows China's agreement to allow foreign retail chains to invest in the local market through joint venture partners as part of its commitment to the World Trade Organization.

Restrictions on the number of outlets each foreign joint venture is allowed will be lifted in December, also as part of that commitment.

Initial retail operations will focus on Beijing and the eastern port city of Tianjin, as well as the northern province of Hebei under a regional licensing agreement with the Dallas-based company, 7-Eleven Inc.

The joint venture plans to open 50 outlets this year and up to 500 stores within the area in the next five years, with an annual sales target of 2.8 billion yuan ($300 million), the statement said.

It faces strong competition from homegrown rivals, with nearly 2,000 convenience stores estimated to be operating in Beijing.