WAL-MART TO SETTLE ASIA HEADQUARTERS IN SHENZHEN
AsiaInfo Services, March, 2005
AsiaInfo Services 03-03-2005 Wal-Mart to Settle Asia Headquarters in Shenzhen SHENZHEN, Mar 03, 2005 (SinoCast via COMTEX) -- The US supercenter chain Wal-Martwill locate its Asia headquarters and global procurement centerin Shenzhen, according to Shenzhen Bureau of Trade and Industry. The project, with an investment of CNY 700 million (USD 1 = CNY8.27), is under construction.
After completion, the headquarters and center will manage the company's global procurement network of USD 190 billion. It is a pity that Wal-Mart has not set up a branch store in neighboring city Guangzhou even if it settles procurement center in Shenzhen. However, its tough rival Carrefour has created two outlets there. Manager of Carrefour Southern China said that the company has...
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