Wal-Mart increases China purchases
1 September 2002
The US-based retailing giant Wal-Mart bought US$10.3bn-worth of Chinese-made goods last year, according to Shenzhen Commercial Daily, up from US$2bn in 1998. This year's purchases are expected to be US$15bn. Last year, four million Hongtu DVD players were sold in Wal-Mart stores worldwide. In mainland China, the group has 20 stores in nine cities; it plans to increase the total to 44 stores by the end of next year.