“The world’s biggest retailer, Wal-Mart Stores Inc. , says it plans at least 10 new stores in China next year, joining other foreign retail giants in taking advantage of new rules letting them move into smaller cities.
China’s $240-billion (U.S.) retail market, dominated by local firms such as Beijing Wangfujing Group and Wumart Stores, is turning into a major battlefield as foreign firms ratchet up their investment. ”
The full story on the Globe and Mail here.
