Wal-Mart lifts procurement

Wal-Mart announced that it expects its China-based procurement to reach US$15 billion for the year. This is an increase from US$12 billion in 2002 and US$10 billion in 2001. The US-based retailer said that it is currently operating 31 Wal-Mart outlets in 15 cities nationwide, including Wal-Mart Supercenters, Sam's Clubs and Neighborhood Markets.

Wal-Mart did not release sales data for its China operations, but it did say that its accumulated taxes paid exceed RMB 800 million since 1996, when it began operations on the mainland.