Wal-Mart Opens its Second Store in Chengdu

Oct 31, 2006

Oct. 31st, 2006, Chengdu, – Today, Wal-Mart celebrated the grand opening of its second store in Chengdu, Sichuan Province — Wal-Mart Supercenter SM Square Store, showing Wal-Mart’s great confidence in Chengdu market.

Various government organizations in Chengdu have given their tremendous support for the opening of the Supercenter. Local officials welcome Wal-Mart’s further investment in Chengdu city and expect that Wal-Mart will continuously bring along advanced retail expertise and promote the development of circulation and manufacture industry. Stanley Yu, COO of Wal-Mart (China) Investment Co., Ltd., said that Wal-Mart’s first outlet in Chengdu has become a favorite destination of local shoppers thanks to its good customer service and high quality merchandise at every day low prices. The Chengdu SM Square store is the second one in Sichuan Province. Wal-Mart is confident that it will also be well received by Chengdu residents and will contribute to Chengdu’s economy.

Located on SM Square on Chengdu Erhuan Road, Chenghua District, the new Wal-Mart Supercenter has a floor area of 13,525 square meters. It offers nearly 20,000 merchandises, including fresh foods, apparels, household electrical appliances, etc. It also has special service areas featuring optical and jewelry services. As a return to customers’ support, the new store offered great value merchandise and provided a series of retailtainment events during the opening.

Wal-Mart is committed to three basic beliefs – Respect for the Individual, Service to the Customer, and Strive for Excellence. The Company strives to provide customers with high quality merchandise at low prices and good service.  Wal-Mart’s direct procurement from China is about US$9 billion per year, and the indirect is also estimated at over US$9 billion, making tremendous contribution to China’s economy and foreign trade. Wal-Mart also actively contributes to various charitable programs. Since entering the Chinese market in 1996, Wal-Mart has donated over RMB 24 million to various charitable organizations. By October, 2006 Wal-Mart employs more than 36,000 associates in China with a total investment of RMB1.7 billion. Wal-Mart has also paid taxes of over RMB 1.5 billion.

In 2005, Wal-Mart accomplished USD312.4 billion sales globally. It ranked first on the FORTUNE 500 list for four consecutive years, and made FORTUNE magazine’s list of “Most Admired Companies in America” for two years in a row. Meanwhile, Wal-Mart was named one of the “Most Respected Companies” and the “Best Companies to Work For” in many other countries. In November 2005 Wal-Mart China was once again selected for the “2005 Top 10 Best Companies to Work For” award by FORTUNE China.

About Wal-Mart China

Wal-Mart China opened its first Supercenter and SAM’S CLUB in August 1996 in Shenzhen and now operates 67 outlets including Supercenters, SAM’S CLUBs, and Neighborhood Markets in 34 cities with over 36,000 associates.  Wal-Mart has brought along advanced management expertise to China’s retail industry and provided local customers with good merchandise and services.  For more information about Wal-Mart China, please visit www.wal-martchina.com.