Liu Minxia

    mllmx@msn.com

    WAL-MART Stores Inc. is planning to open 30 new stores in China this year, including two in Shenzhen, the world’s largest retailer by revenue said yesterday, as it fulfills its pledge to boost its presence in China’s booming but highly competitive hypermarket sector.

    The retailer will also spend 370 million yuan (US$59.11 million) to upgrade about 50 old stores in China. It didn’t disclose the locations of the two new stores to open in Shenzhen this year, saying five to six of the new stores will be located in Guangdong.

    Walmart has created more than 20,000 jobs by opening more than 80 stores in Guangdong, the most among all Chinese provinces and regions. It operates four distribution centers in the province.

    Walmart has more than 400 stores and some 100,000 employees in China, but is facing rising competition from large-scale retailers and online retailers amid a slowing economy.

    Walmart’s China division saw increases in both profit and sales last year. Three of the top-four Walmart outlets by sales globally are in China and the Sam’s Club in Shenzhen’s Futian District for the seventh year was ranked first by sales among all Walmart outlets worldwide.