Wal-Mart has signed an agreement with Guangyun Meiju Plaza to enter Guilin, a scenic spot city in Guangxi Zhuang Autonomous Region, at the end of this year.
The first lease term of Wal-Mart in Guilin is 15 years and it will later be extended every five years after the first lease term expires.
Located in the A Zone of Meiju Plaza, the Wal-Mart Guilin store will cover an area of 16300 sqm with one underground floor and three floors above the ground. Wal-Mart also plans to build a logistics shipping center in Diecai District which will be responsible for the logistics delivery in southwest China.
It is expected that the entry of Wal-Mart into the Guilin market will bring a new change in the business structure in Guilin, particularly in the northern part of the city.
Founded in 1962, Wal-Mart is one of the largest retailers in the world. It has more than 5000 stores in 10 countries all over the world and employs over 1.6 million employees. Since entering the Chinese market in 1996, Wal-Mart has opened 47 stores in 22 cities.