Expanding market access opens new growth avenues for foreign enterprises

BEIJING - Global retail giant Walmart Inc is planning to further increase its investment in the Chinese market after opening a mega perishable products distribution center in South China's Guangdong province in March.

The US-based multinational said on Monday it would spend around 8 billion yuan ($1.16 billion) over the next 10 years to build or upgrade over 10 distribution centers to boost online and offline businesses to meet Chinese customers' demand for fresh goods and convenient services.

The investment plan came a day after China released a revised list of industries for foreign investment, which includes logistics of ordinary goods, cold chain logistics for fresh agricultural goods and special medicines.