Wal-Mart, the world’s largest retailer, is negotiating with Shanghai Light Industry Holdings to purchase a wide range of goods for sale in its stores. Shanghai Daily said that the deal was likely to include tinned and frozen foods, confectionery and the Phoenix brand of bicycles.
Last year Wal-Mart bought goods worth US$10.4bn in China, mostly sourced from Guangdong province, and the company said that it plans to purchase more in the country and to deal directly with producers to cut costs. Its first Shanghai hypermarket is likely to open soon in the north-eastern part of the city.