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US-based Wal-Mart, the world's largest chain store retailer, says it will open a shopping plaza in Haidian District in Beijing.
This is the first step of the company's plans to enter the Beijing market with an ambitious plan of setting up five branches including three shopping plazas and two members-only stores called Sam's Club in the city.
The new plaza will cover a business area of 18,000 square meters and sell a wide variety of goods. Another plaza is also scheduled to open later in the year in Beijing's Xuanwu District.
Wal-Mart has also signed deals with some Beijing companies including Beijing Huiyuan, Beijing Sanyuan and Daoxiangcun for the purchase of local food products.
(Xinhua News Agency May 11, 2005)
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