Wal-Mart steps up expansion in China – Hugo Miller

From Bloomberg, via the International Herald Tribune:

Wal-Mart plans to open 14 superstores in China this year in an effort to catch up with Carrefour and domestic chains. China’s retail market is estimated at $652 billion.

In December, China made it possible for foreign retailers to open stores without a local partner. The decision met pledges made when China joined the World Trade Organization in 2001.