Beijing Mayor Welcomes Wal-Mart Chain StoreBeijing Mayor Liu Qi Monday expressed his welcome to Wal-Mart to open a chain store in Beijing.In meeting with John Menzer, head of the international department of Wal-Mart, the Beijing mayor said that the city will open wider to the rest of the world as China will join the World Trade Organization. Wal-Mart has opened quite a few of chain stores in China. Beijing welcomes Wal-Mart to explore business in Beijing by opening new chain stores. Liu told Menzer that retailing has a rosy prospect in Beijing. Menzer said that Wal-Mart will open more chain stores in China, in Beijing in particular. Wal-Mart has opened eight chain stores in China's Shenzhen, Dongguan, Kunming, and Dalian with a total investment of 1.1 billion yuan (US$132.5 million). Wal-Mart is world's largest retailing chain store giant, owning 4,000 chain stores in nine countries. It is ranked the second on the top 500 list of companies published by Fortune in 1999. |
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