24 February 2005 – Shenzhen (CHN): Wal-Mart is to invest a total of CNY700 million ($84.4 million) to build its new Asia headquarters in the Futian district of Shenzhen, according to reports in the Chinese press.
The new Wal-Mart facility, which will cover a total area of 200,000sqm, is expected to begin operations in 2007.
The headquarters will allegedly include Wal-Mart’s global purchase centre, which is currently located in the Luohu district of Shenzhen, as well as entertainment facilities such as a shopping mall and a new cinema.
