Wal-Mart to Open Its Fourth Store in Shanghai
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[April 30, 2006]

Wal-Mart to Open Its Fourth Store in Shanghai

(SinoCast China Business Daily News Via Thomson Dialog NewsEdge)SHANGHAI, May 01, SinoCast -- On April 26, Wal-Mart China signed the agreement to settle down in the Carnival Plaza of the Jiangding District with the Jiangding District government.



According to an insider, Wal-Mart has just signed the settlement agreement with the Jiading District, and presently the establishment of the store still needs approval from the attached department. Last July, Wal-Mart embarked on its first Shanghai store in the Pudong District and it is planned that another two stores will start their business in the latter half of this year or in the first half of next year.

It is noted that the Carnival Plaza that Wal-Mart will settle in is a commercial plaza including entertainment, food and shopping. Its total area is 160,000 square meters, and Wal-Mart belongs to the first stage of the plaza, covering an area of 20,000 square meters.



The first phase of the Carnival Plaza is expected to be completed in the first half of next year, thus the Wal-Mart store in the plaza may open in the latter half of next year. So far, Wal-Mart has less than 60 stores in China, and it aims at opening more stores in China.

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