11/30/2004

Wal-Mart's China inventory to hit US$18b this year

The world's largest retailer, Wal-Mart Stores Inc, says its inventory of stock produced in China is expected to hit US$18 billion this year, keeping the annual growth rate of over 20 per cent consistent over two years.

The trend is expected to continue, company officials revealed.

"We expect our procurement stock from China to continue to grow at a similar rate in line with Wal-Mart's growth worldwide, if not faster," said Lee Scott, the president and CEO (chief executive officer) of Wal-Mart.

An unnamed company official also stated the firm will extend its procurement base from South China's Pearl River Delta to the North and East China in the coming few year

Wal-Mart's China inventory to hit US$18b this year

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