Walmart Says It Will Invest $425 Million to Expand Presence in Wuhan over the Next Five Years

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> Walmart’s China branch announced at an investment conference hosted by the Wuhan city government on Wednesday that it was committing 3 billion yuan ($425 million) to expand its presence in the origin point of the coronavirus pandemic over the next five years.

> According to Walmart China, the company will be putting up at least four new Sam’s Club stores, 15 additional shopping malls, and more community stores in the capital of China’s Hubei province. The U.S.-based retailer already has 34 stores and two distribution centers in the city, where the global coronavirus pandemic first emerged in December.

> Wern-Yuen Tan, President and CEO of Walmart China, announced the decision in collaboration with Wuhan’s municipal government, saying “the framework marks a new milestone between the two parties and a new beginning for a win-win situation.”