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Wal-Mart procurement continues to rise

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 mention that its accumulated taxes exceed RMB800m since 1996, when it began operations on the mainland.

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