Wal-Mart sets up new subsidiary in China

Since 2009, Wal-Mart has set up more than ten wholly-owned subsidiaries in Chinese cities and provinces, including Hunan, Chongqing, Hubei, and Dongguan. Before setting up these regional subsidiaries, Wal-Mart cooperated with Chinese companies, including Shenzhen International Trust & Investment, for expansion in China.

However, the complicated operating processes slowed down the retailer's expansion. With the help of these new subsidiaries, Wal-Mart opened nearly 40 new outlets in 2009 and the total number of Wal-Mart stores in China exceeded that of its competitor Carrefour for the first time.