The world's retail giant Wal-Mart has announced that it will invest CNY500 million to build new stores in Guizhou's Anshun, Kaili, and Duyun in the next five years.
According to a strategic memorandum of understanding signed between Wal-Mart and the Department of Commerce of Guizhou Province, the Guizhou government will support Wal-Mart to open Sam's Clubs and shopping plazas in the province. Meanwhile, Wal-Mart will formulate opening plans and promote the opening in accordance to the business layout plan of Guizhou.
The Guizhou government will establish procurement platforms between Wal-Mart and rural organizations in Guizhou to promote the connection between them. It will also provide support to Wal-Mart to set up distribution facilities and a cold chain logistics system in the local agricultural production base.
A representative from Wal-Mart (China) Investment Company Limited told local media that the company plans to further expand its procurement of agricultural products in Guizhou, so as to help local farmers increase income and support the construction of the rural areas. At the same time, the company will try to set an example in the low carbon, food safety, and market price stabilization sectors, and to continue to explore and promote the sustainable development of the trade circulation industry.
As the world's leading chain retailer, Wal-Mart entered the Chinese market in 1996. By August 2011, it has opened 346 stores in 128 cities in China. At present, Wal-Mart has six stores in Guiyang, Zunyi, and Liupanshui in Guizhou.