SHANGHAI Oct 26 Wal-Mart Stores Inc
plans to open 100 more stores in China and create 18,000 jobs
there over the next three years, it said on Friday, in a bid to
boost its presence in China's booming but highly competitive
Wal-Mart, which has 370 stores and over 100,000 employees in
China, was a pioneer in the market, but now faces much greater
competition from Britain's Tesco Plc, Germany's Metro
AG, France's Carrefour and domestic firms,
as well as a slowing economy.
China's hypermarket sector, in which retail sales reached
506.9 billion yuan ($81 billion) last year according to
Euromonitor, includes the world's three largest retailers in
Wal-Mart, Carrefour and Tesco, and domestic brands led by Sun
Art Retail Group.