| Monday, November 12, 2001, updated at 09:04(GMT+8) |
Beijing's Leading Retailers Told How to Compete with Wal-Mart |
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Managers of nearly 100 big retail businesses in the Chinese capital gathered Sunday for a lecture on ways to compete with U.S. retail giant Wal-Mart.
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Managers of nearly 100 big retail businesses in the Chinese capital gathered Sunday for a lecture on ways to compete with U.S. retail giant Wal-Mart.
Dr. Kenneth Stone, an economist and professor from Iowa State University, briefed local retail business leaders on the impact Wal-Mart has made on medium-sized and small retailers in the United States.
The professor has been doing research on the U.S. retail giant for about 20 years.
Wal-Mart recently announced its investment strategy in China, including its plan to set up a superstore in western Beijing.
China has pledged to further open up its retail business market in the coming years.
Guo Geping, president of the China Chainstore Business Society, told the seminar that Chinese retail business should pay more attention to the needs of their customers, rather than focusing on their rivals' activities and price wars.
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