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 | Friday, April 28, 2000, updated at 13:21(GMT+8) | ||||||||||||
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Wal-Mart Opens up Dalian SupercentreWal-Mart will further develop its co-operation with Dalian, Northeast China's Liaoning Province, said Joe Hatfield, president of Wal-Mart Asia and China, on the opening ceremony of Wal-Mart Dalian Supercentre on April 27.Covering 20,000 square metres, the supermarket is the company's seventh store in China and the biggest of its type in the city. Invested by Wal-Mart China Co Ltd and Dalian Friendship Group Corporation, a key local State-owned commercial corporation, the supercentre is expected to further stimulate Dalian's economy. With total sales of US$134 billion last year, the company is the biggest retail transnational corporation in the world. "As a coastal open city, Dalian wants to guarantee not only the economic growth, but also the development of commercial environment for the local residents," said Dalian Party Secretary Bo Xilai. He said overseas investment has been proven to be a very effective way to open the sector. And he encouraged Wal-Mart to create a very positive effect on the development of the retail market in Dalian.
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