Wal-Mart to expand in China

BEIJING: Wal-Mart plans to add 10 million sq ft of retail space in China this year, reported China Daily.

The announcement was made by Scott Price, chief executive officer of Wal-Mart Asia at the Global Summit of Women 2010 held in Beijing from May 20 to 22.

“This is a huge expansion of Wal-Mart in China,” said Price.

The retailer will also employ more women and reduce its energy and resource consumption by 40% in 2010 compared with 2005, added Price.

According to China Daily, the retail giant currently operates some 200 stores in 87 cities across China. Wal-Mart entered the Chinese market in August 1996 with the opening of its first store in Shenzhen.
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