Wal-Mart to Nearly Double Stores in China
BENTONVILLE, Ark. -- A senior official at Wal-Mart Stores, Inc. here said yesterday the global retailer aims to have 90 units in China by the end of next year, according to an Associated Press report.
Wal-Mart currently operates 48 stores in the densely populated country, which is in the midst of an economic boom.
Wal-Mart has partnered with Chinese companies to ease government relations as it increases its presence in the country. Its new Shanghai store, for example, is owned by Wal-Mart East China Stores Co., a joint venture between Wal-Mart and China's CITIC Group.
Wal-Mart currently operates 48 stores in the densely populated country, which is in the midst of an economic boom.
Wal-Mart has partnered with Chinese companies to ease government relations as it increases its presence in the country. Its new Shanghai store, for example, is owned by Wal-Mart East China Stores Co., a joint venture between Wal-Mart and China's CITIC Group.