Wal-Mart to open 60 new stores by 2017

Part of retailer's effort to integrate businesses in a tough market

Wal-Mart China is opening 60 new stores in the country by 2017 as part of its efforts to integrate its hypermarkets, membership stores and online platform to offer customers more convenience and quality products in a highly-competitive retail market, the company's top executive said.

Greg Penner, chairman of the Wal-Mart board of directors, said in an exclusive interview with China Daily in Shanghai on Wednesday that the company has already opened more than 50 new stores since a plan to add 115 stores in three years was announced in 2015.