Others News
- Wal-Mart enlarges distribution center
Date: 6-Nov-2007 Sources: (Shenzhen Daily)
AN expanded distribution center for Wal-Mart in North China's Tianjin has been completed to meet the growing demand of the world's leading retailer's business in the Chinese market.
The expanded center in Tianjin's Beichen district can handle 330,000 packages of goods, quadrupling the capacity of the original one, according to Gao Jian, a logistics and distribution officer at Wal-Mart. The center is the second for Wal-Mart on the Chinese mainland. The other is in Shenzhen. The Tianjin distribution center will supply goods to up to 90 Wal-Mart stores. Currently, it is responsible for supplying goods to 28 supercenters and one Sam's Club in North China. Wal-Mart has opened 91 stores on the Chinese mainland since its entry into China in 1996.
Japanese insurance sets up subsidiary
JAPAN'S Mitsui Sumitomo Insurance Co. Ltd. set up a subsidiary, Mitsui Sumitomo (China) Insurance Company, in China on Sunday.
The subsidiary, with a registered capital of 200 million yuan (US$27 million), is transformed from Mitsui Sumitomo (Shanghai) Insurance Company, the branch of the company in Shanghai. So far Mitsui Sumitomo Insurance has opened representative offices in nine Chinese cities, which are expected to be upgraded to be corporate entities in the future with the approval of the Chinese Government.
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