Wal-Mart's Global Purchasing Center Moved to Shenzhen

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Last updated at: (Beijing Time) Monday, August 05, 2002

Wal-Mart's Global Purchasing Center Moved to Shenzhen

The US-based Wal-Mart, the world's largest chain store retailer, has moved its global purchasing center from Hong Kong to Shenzhen, a city in south China's Guangdong Province.

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The US-based Wal-Mart, the world's largest chain store retailer, has moved its global purchasing center from Hong Kong to Shenzhen, a city in south China's Guangdong Province.

The Shenzhen Economic Daily quoted Wal-Mart sources as saying that the company expects to have 44 branches in China by the end of 2003.

Wal-Mart is also planning to set up five branches in the Chinese capital Beijing in the next five years. The five branches,including three shopping plazas and two members-only stores calledSam's Club, will cost 25 million US dollars including 6.5 million of foreign capital.

Wal-Mart first entered the Chinese market in 1996 when it openedits first Sam's Club member store and shopping plaza in Shenzhen, a special economic zone neighboring Hong Kong.

So far, there are 20 Wal-Mart branches in China, seven of them in Shenzhen. Last year, Wal-Mart purchased 10 billion US dollars worth of China-made products to sell in its outlets around the world.

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