Wal-Mart Will Nearly Double Its Stores in China

Beijing, Wal-Mart Stores Inc. will open 42 stores in China by the end of 2006. The new stores will nearly double the number of Wal-Mart stores currently operational in China. Presently, there are 48 stores in China and Wal-Mart hopes to increase the number to 90, according to Lawrence Lee, Wal-Mart’s operations director for eastern China.

A new store will open in Shanghai, China on Thursday, which will be a joint venture between Wal-Mart and China’s CITIC Group. Lee said Wal-Mart does not plan to fully own any operations in China.