Walmart, the world’s largest retailer, will open 30 new stores in China in 2016, Walmart China president and CEO Sean Clark said Thursday [25 February 2016]. Besides the 30 new stores, Walmart will upgrade 60 existing stores and expand its logistics and distribution centers. It will also introduce a cross-border e-commerce service in 2016, according to Clark. Walmart will launch its first community shopping center in China in 2016. The center, in Zhuhai City, Guangdong Province, will be wholly designed, constructed and managed by Walmart, he said…Full Article: ECNS.cn Feb 2016
- In 2015, Walmart had 433 stores located in 169 cities across mainland China.
- In November 2015, Walmart China announced plans to open new stores in Inner Mongolia, Yunnan, Shandong, Fujian, Hubei and Guangdong.
- In October 2015, China Resources SZITIC, a subsidiary of China Resources Corp, announced it will its 35% stake in 21 Wal-Mart Stores in China for approximately CNY 3.35 billion (US$523.4 million). China Resources SZITIC is a subsidiary of China Resources Corp.
- As of 2014, Wal-Mart has more than 400 retail units operating in China, with the first opening in 1996 in Shenzhen, southern China.