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Greater China

Jul 30, 2005

Wal-Mart to open 7 new outlets in China this year

SHANGHAI - US retail giant Wal-Mart plans to open seven new outlets in east China by the end of this year, said Li Qingquan, chief manager for Wal-Mart's east China region, on July 27.

The company's first outlet of the seven is set to open in Shanghai's Pudong District July 28, covering 18,000 square meters. More than 20,000 kinds of goods will be available in the new supermarket, said Li. Wal-Mart's number outlets in China will increase from 48 to 55.

The retailer giant tapped into the Chinese market in 1996, but only nine stores are located in densely populated and relatively developed east China, Li said. Currently, there are more than 100 supermarkets in Shanghai, including the world famous Carrefour, Metro, Lotus and Auchan. But Li said, "Wal-Mart is fully prepared for the fierce competition in Shanghai." It will reduce its costs through large-scale purchase so as to keep its commodity prices at low levels. Li said the outlet to be opened July 28 will provide eight free bus routes for the convenience of customers.

In addition to stores in major cities like Shanghai, Wal-Mart will expand in east China's medium and small cities such as Jinhua in Zhejiang Province and Wuhu in Anhui Province, according to Li.

(Asia Pulse/XIC)

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