Walmart to convene board meeting in China

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Last updated at: (Beijing Time) Friday, March 05, 2004

Walmart to convene board meeting in China

The world's largest retailer Walmart announced here Thursday that it would hold its annual global meeting of board of directors for the first time in the Chinese mainland.

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The world's largest retailer Walmart announced here Thursday that it would hold its annual global meeting of board of directors for the first time in the Chinese mainland.

The meeting will be held in Shenzhen City in south China's Guangdong Province. Walmart opened its first retail store in the Chinese mainland in 1996.

Samuel Robson Walton, chairman of Walmart, said China has dual importance to the US-based retailing giant, because China has beenfor many years a major supplier of good quality goods and now is amarket with great potential.

The chairman said the board members should go to China in person to have a good look at Walmart stores and the Chinese market.

Walmart has opened 35 outlets in 17 Chinese cities, including 30 supermarkets, three Sam's Clubs and two community stores, with a total of 18,000 employees.

Walmart boasts its largest sales revenues among peer companies,and it has more than 4,900 outlets all over the world.

The specific date of the board meeting is yet to be decided.

Source:Xinhua

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