China Resources unit to sell stakes in Wal-Mart

Transferring interests in 21 outlets will not hit operations and development of US retailer

China Resources SZITIC Trust Co Ltd, a subsidiary of China Resources Corp, is to sell its 35 percent stake in 21 Wal-Mart Stores Inc's outlets in China, worth 3.35 billion yuan ($523.4 million).

"Transfer of the minority interest in our joint venture partner will not affect Wal-Mart's operation and development in China," Wal-Mart China said in a statement.