Wal-Mart to open 30 new stores in China

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.