Wal-Mart to expand in China

Wal-Mart, which is expected to open 14 superstores in China this year, plans to expand into smaller Chinese cities and to accelerate openings across the Mainland since Beijing relaxed regulations on foreign retailers earlier this year, Bloomberg reported, citing the vice president of corporate affairs for Wal-Mart China, James Lee. The world's largest retailer currently has 48 stores in 23 Chinese cities, compared to Paris-based Carrefour's 61 stores, and is considering opening more in obscure cities like Yuxi in Yunnan province.