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WAL-MART STIRRING GREAT A HEAT WAVE OF BUSINESS DEVELOPMENT
Info-Prod Research (Middle East), July, 2005
According to fdi.gov.cn: Reuters sources show Wal-Mart is envisaging a 10% sales growth in China this year. The company is also expected to double its outlets in China by the end of 2006, in an attempt to narrow the discrepancy with Carrefour and other supermarket chains. After Beijing announced to remove the local partnership requirement last year for foreign companies operating in China, Wal-Mart, this second most important player in retail business in Asia, has fast-expanded the number of its outlets in China.
Wal- Mart has reportedly set up presence in 22 Chinese cities and is ready to increase the number of outlets to 55 by the end of this year while the number at 2004-end was only 43. Wal-Mart purchased 18 billion USD worth of products from China. If the company may as...
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