Wal-Mart board meeting set for Shenzhen

US-based retailer Wal-Mart announced that it will hold its annual global meeting of the company's board of directors in Shenzhen, Guangdong province. Wal-Mart chairman Samuel Robson Walton said the decision underscored China's dual significance to the retailer as a longtime procurement hub and as an emerging retail market with significant potential. Wal-Mart has 35 outlets in 17 mainland cities. Wal-Mart officials said that the goal of the meeting in Shenzhen was to familiarize board members with the Chinese market and Wal-Mart operations on the mainland.