US-based Wal-Mart, the world's largest chain store retailer, has determined to make its entry into the Beijing market with an ambitious plan of setting up five branches including three shopping plazas and two members-only stores called the Sam's Club in the city.
It will involve a total investment of US$25 million including 6.5 million of foreign capital. Its first Sam's club in Beijing is expected to open by the end of next year or early 2003.
In 1996, Wal-Mart first entered the Chinese market by opening its first Sam's Club member store and shopping plaza in Shenzhen, a special economic zones in Guangdong Province neighboring Hong Kong.
(People's Daily November 19, 2001)
