Wal-Mart to open two stores in Beijing this year
(Agencies)
Updated: 2005-04-11 14:10

The world's largest retailer, Wal-Mart Stores Inc, says it will open two outlets in Beijing this year, and at least one more store next year.

Company officials made the announcement on Thursday at a seminar on food safety in supermarkets, saying the outlets will be supercentres, with floor space of about 20,000 square metres.

"Wal-Mart is expanding rapidly in Beijing as we think highly of the market," said Xu Jun, director of external affairs for Wal-Mart China.

He said the first store will be opened in mid-May, and the second is expected to be launched in October or November.

"The store opening in the second half of this year will be the last supermarket approved by the government to open within the city's third ring road," Xu said.

In order to curb redundancy in the commercial sector, the Beijing municipal government is drafting regulations on the location of commercial networks, and such guidelines will be issued shortly. 

Xu does not think the regulations will hamper the firm's expansion in the city, saying the same opportunities will be granted to both foreign and domestic firms.

Wal-Mart so far has one outlet, Sam's Club - a membership supermarket - in Beijing.

"This store, with a growth rate of over 20 per cent annually, is the fastest growing one among all Wal-Mart's outlets," Xu said