Walmart banks on tech innovation

US retail giant Walmart Inc will continue to grow its hypermarkets, Sam's Club stores, and community-based smaller-sized supermarkets businesses in China with more advanced technologies, according to a top official.

Doug McMillon, president and CEO of Walmart, told China Daily during his visit to Shanghai on Thursday that China is still one of the most important markets for the US retailer. Technology will be another major focus area for the company in China as Walmart has always been a "people-led company that relies heavily on technology," he said.

McMillon said Walmart has developed digital solutions to better understand customer behavior and spending patterns, which in turn has helped the retailer to create new products and to solve old retail problems with modern technology.