Walmart to Pour $1.2 Billion in China to Upgrade Logistics: Reuters

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By: Tanner Brown / Jul 02, 2019 10:06 AM / Business & Tech

Photo: IC Photo

Walmart said it will invest 8 billion yuan ($1.2 billion) in China over the next decade focused on logistics, the company said Monday, Reuters reported.

The plan also includes work on 10 logistics centers in the country, the report said.

“Walmart has been pushing to integrate its retail network in China with the country’s burgeoning ‘smart retail’ movement, as retailers and tech giants such as Alibaba Group Holding Ltd and Tencent Holdings Ltd cut deals to combine online and high-street shopping,” Reuters said.

Contact reporter Tanner Brown (tannerbrown@caixin.com)

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