New Wal-Mart store opens in Beijing
By Liu Jie (China Daily)
Updated: 2005-05-19 09:28

Wal-Mart, the world's top chain retailer, opened a new store in Beijing yesterday, pushing its total number of outlets in China to 46.

The Zhichunlu Wal-Mart is Beijing's first Supercentre, following a Sam's Club membership store in Shijingshan District. Covering 18,000 square metres, the supercentre is located in western downtown Beijing and stocks around 20,000 items.

Wal-Mart International Executive Vice-President John B. Menzer said the launch of the Zhichulu supercentre is a major step towards consolidating the company's presence in China. Wal-Martis now represented in 21 cities from Harbin to Kunming.

Huang Hai from the Ministry of Commerce said that Wal-Mart had helped introduce advanced retailing technology and operation skills to the country.

Speaking at the close of the the Beijing FORTUNE Global Forum closed yesterday, Menzer said Wal-Mart has speeded up its expansion in China and plans to open up to 15 more stores the end of this year with Chongqing in Southwest China the next target.

"Right now China, percentage-wise, is our fastest growing market," said Menzer.

In a bid to command greater market share in China, other western superstore operators are also looking to expand. French owned Carrefour, the most successful foreign retailer in China in terms of sales volume and outlet numbers, launched its 60th store in Chongqing on April 26.

Germany-based Metro, boasting 25 stores in China so far, has said it will cement its positions in the nation's northern and western regions with plans for further expansion in those areas.

Amid stiff competition, Wal-Mart is looking to gain an edge by increasing its local sourcing.Before the opening of the new store, a sourcing fair was held last month where local toy, footwear and seasonal goods producers received orders from the US giant.

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