On October 27, at a Wal-Mart store in Xiangmi Lake, Chen Biao (deputy mayor of Shenzhen) and Yue Mingde (president of both Wal-Mart Asia and Wal-Mart China) attended the occasion and had a talk. A Memorandum of Investment and Cooperation was signed between Invest Shenzhen and Wal-Mart China to invest more in Shenzhen. Guo Rongjun (former deputy mayor of Shenzhen), Wu Dinghai (deputy director of Municipal Publicity Department) and Wang Youming (director of Invest Shenzhen) also attended.
Chen Biao (deputy mayor of Shenzhen) spoke very highly of the contributions of Wal-Mart to the development of the city in his speech. Moreover, he mentioned the invaluable role of Wal-Mart in facilitating development of the local retailing industry, refining the city infrastructure and improving residents lives. More importantly, the new move of Wal-Mart to incorporate "Internet+Retail" brings more attentive service and a high-quality shopping experience for customers. He expects Wal-Mart to undertake more social responsibilities, pay more attention to social programs and join in building an industrial chain for food safety. In this way, we can make the shopping environment healthier and greener. During the anniversary ceremony, Wang Youming (director of Invest Shenzhen) signed a Memorandum of Investment and Cooperation with Daniel Mallory (senior vice president of the Wal-mart China business development division, investment co., LTD.). Wal-Mart China promises to invest more in Shenzhen and establish more shopping malls and Sam's Clubs in China.
1996 marked Wal-Mart's entry into the Chinese Market, and the first Wal-Mart and Sam's Club stores were established in Shenzhen. Wal-Mart has ranked first in the Fortune 500 for 3 years and is the only foreign company in the Fortune 500 with headquarters in Shenzhen. The Shenzhen headquarters of Wal-Mart China and overseas global sourcing headquarters are located in Shenzhen. There are currently 27 stores, and the largest distribution center and fresh food distribution center in China are operating in Shenzhen. In addition, tax revenues from Wal-Mart have been upwards of 6 billion Yuan.
