The world's retail giant Wal-Mart has announced that it will invest CNY500 million to build new stores in Guizhou's Anshun, Kaili, and Duyun in the next five years.

According to reports in Chinese local media, Shawn Gray, operating vice president of the Chinese region of Wal-Mart Stores Inc., has resigned.

Yihaodian.com, a Chinese business-to-consumer shopping website, has announced that it has reached a strategic cooperation agreement with Walmart Stores Inc. to jointly develop services for the Chinese retail market.

Roland Lawrence, Walmart's chief financial officer for China, and Rob Cissell, the chief operating officer in the country, have reportedly resigned their positions.

Auchan has recently opened a 9,284-square-meter new store in Huayang, Chengdu, the first large supermarket in the area.

According to Rob Cissell, chief operating officer for Walmart China, the company plans to open its first Sam's Club in Shanghai by the end of 2010.