Report: Wal-Mart opens c-stores in China
Bentonville, Ark. Wal-Mart said on Wednesday it has launched a pilot program to open convenience stores in China in an effort to boost its presence in one of the world's fastest-growing retail markets, Reuters reported.
Wal-Mart opened three convenience stores in December in the south China city of Shenzhen.
Wal-Mart will track the performance of the stores, named "Smart Choice" or Hui Xuan in Chinese, before deciding on future expansion, the report said.
An unnamed company source was quoted by Chinese media saying that Wal-Mart plans to open 100 of the convenience stores across China this year and 1,000 in five years, according to Reuters.
China's $824 billion retail sector is one of the world's fastest growing.