Manufacturing Industry
Wal-Mart tightens grip on China and gets set for India.(INTERNATIONAL NEWS)
Cosmetics International, August, 2007
US mass retailer Wal-Mart aims to make itself the leading retailer in the Chinese market by more than doubling its stores over the next five years.
The group currently operates 84 stores across 46 Chinese cities but expects to have a 20% share of the country's retail sector with the expansion.
Wal-Mart agreed to buy a stake in Chinese retailer Trust-Mart in February and is alleged to be in talks to buy all or part of Beijing Hualian Hypermarket.
Overseas businesses have been pouring into China since the nation opened up its domestic market to foreign competition. Per capita disposable income in urban areas rose more than 12% last year while the country's retail sales increased 14%.
Wal-Mart has also made its long awaited move on the...
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