Wal-Mart to open 30 new stores in China

A Wal-Mart super center in Hangzhou, capital of Zhejiang province, in 2012. [Zhu Yinwei / China Daily]

The world's largest retailer by sales will open 30 new stores in China and invest nearly 500 million yuan ($80.1 million) to remodel existing ones in the country.

Wal-Mart Stores Inc told China Daily on Monday it will remodel 50 stores this year, following completion of remodeling at 31 stores last year.

The new openings in China this year are part of a plan announced in October for the company to have more than 100 new stores in the next three years.

This year, the US retailer has opened two new stores in Sanhe, Hebei province, and in Bazhong city, Sichuan province.

Two hypermarkets will be opened in Shenzhen and Dongguang in Guangdong province and two new Sam's Club stores in Hangzhou, Zhejiang province and Suzhou, Jiangsu province.

More distribution center networks are also on the investment agenda for Wal-Mart, including a new distribution center in Wuhan, Hubei province and chilled warehouses in Shenzhen and Guangzhou to enhance food safety and quality, and help reduce costs, the company said.

The company will continue to upgrade its operations and invest in its stores, Sam's Clubs and distribution centers, said Wal-Mart China's President and CEO Greg Foran.

He added: "Our aim is to strengthen our business foundation to enable our long-term development in China."