Wal-Mart is planning to move its Asian headquarters to Shenzhen, according to this article in Eastday:
Wal-Mart, the world’s largest retailer, plans to move its Asian headquarters from Hong Kong to Shenzhen, a city in south China’s Guangdong Province, in 2006…
Ding said besides Shenzhen’s location neighboring Hong Kong, support from its Chinese partners and local government also helped Wal-Mart decide to move its Asian headquarters…
As a result of its agreement for entry into the World Trade Organization, China completely opened its retail industry by the end of 2004. Complex procedures are no longer required for overseas retailers to enter the China market.
Last year, Wal-Mart announced plans to open hundreds of new stores in China within the next five years. If Wal-Mart were an independent country, it would be China’s eighth biggest trading partner, and inventory of its stock produced in China was worth $18 billion, according to this article in China Daily.
