Retailing giant Wal-Mart to expand business in China

BEIJING: Wal-Mart plans to add 10 million square feet of retailing space in China this year, said a senior executive of the world's largest retailer Saturday.

The plan was disclosed by Scott Price, CEO of Wal-Mart Asia, while addressing the Global Summit of Women 2010 which ended in Beijing Saturday.The summit opened on Thursday evening.

"This is a huge expansion of Wal-Mart in China," said Price, who added that Wal-Mart now has some 200 stores in 87 cities in China.

The retailer will also employ more women, and reduce its energy and resource consumption by 40 percent this year compared with 2005, Price said.

(Source: China Daily)