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Wal-Mart invests US$16.9 mln boosting expansion in Chongqing

Published: 08 Jun 2009 19:07:24 PST

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Jun. 9, 2009 (China Knowledge) - Wal-Mart Stores Inc, the world's largest retail chain, plans to invest a total of US$16.9 million this year in five stores in Chongqing, a metropolis in Southwest China, sources reported.

The five stores, four of which are set to open this year, will cover an area of more than 10,000 square meters. The Chongqing market will become Wal-Mart's second largest market in mainland China, behind Shenzhen.

In preparation for opening the Chongqing stores, Wal-Mart set up a separate legal entity to operate its business in the city.

The company last December said it planned to open five new stores in Chongqing in 2009 as part of its expansion plan.

In April, the retail giant reportedly dropped the restructuring plan for its China stores after it was blocked by the local trade union in Changchun, the capital of Jilin Province.

Wal-Mart entered China in 1996 and employs more than 70,000 people in the country's 121 super-centers, three Sam's Club outlets, two Neighborhood Markets and 101 Trust-Mart chain stores.

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