World's biggest retailer playing catch-up
Wal-Mart is understood to be stepping up its expansion plans in China. According to Reuters, the world's biggest retailer intends to double its outlets in the country by the end of next year to try to catch up with Carrefour.
However, despite a relaxation of regulations in China that required foreign businesses to have a local partner, Wal-Mart is understood to be happy to continue the practice, hoping to gain an advantage through local knowledge.
Wal-Mart plans to operate 55 stores in China by the end of this year, still lagging behind Carrefour's 62. The proposed investment will bring Wal-Mart's Chinese store portfolio to 90.
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