Walmart to Expand in China

Walmart (Bentonville, Ark.) announced today it will build 150 new stores in China by 2017 and upgrade 50 existing stores this year.

The new stores will open in cities such as Shanghai, Shenzhen and Wuhan between 2015 to 2017, according to Reuters.

“China is a key strategic market for Walmart,” ceo Doug McMillon said in a statement. “Over the next three years, we will increase investment across our diverse business operations in China.”