Wal-Mart has signed a contract with Jiading District of Shanghai for a new store at Jianianhua Square in Jiangqiao.
This store will be the fourth store from Wal-Mart in Shanghai. According to a representative from Wal-Mart East China Department Store, they are waiting for approval from the concerned government department to construct the new store.
Li Feng, director of the Trade Office in Jiangqiao, tells local media that Wal-Mart will cover a total space of about 20000 square meters in the 160,000-square meter square that is expected to combine entertainment, food and shopping. And the new store is expected to open the second half of next year.
Wal-Mart opened its first store in Shanghai's Pudong District last July. The other two stores are also scheduled to be opened in the latter half of this year or early next year.
At present, Wal-Mart has more than 60 stores in China, but it still lags behind Carrefour in store number. Carrefour has over 80 stores in China.