Wal-Mart to open more stores in China

Wal-Mart Stores Inc plans to open about 40 new stores in South China's Guangdong Province in the next three years, domestic news portal yicai.com reported Wednesday.

Raymond Bracy, senior vice president of corporate affairs for Wal-Mart's China unit, was quoted by the report as saying that about 25 stores would be opened in Guangzhou, capital city of Guangdong, and the places around Guangzhou in the next three to five years.

The company currently runs over 400 stores in about 170 cities in the market, among which more than 80 are in Guangdong.