Walmart to invest $1.2 billion in China over the next 10 years to upgrade logistics

Walmart to invest $1.2 billion in China over the next 10 years to upgrade logistics
FILE PHOTO: Walmart's logo is seen outside one of the stores in Chicago, Illinois, U.S., November 20, 2018. REUTERS/Kamil Krzaczynski Copyright Kamil Krzaczynski(Reuters)
By Reuters
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BEIJING (Reuters) - Walmart <WMT.N> plans to invest 8 billion yuan ($1.2 billion) in China over the next 10 years to upgrade logistics, the U.S. retail giant said in a statement on its verified social media account Monday.

The company also said it will set up or renovate more than 10 logistics centres in the country.

(Reporting by Pei Li and Ryan Woo; Editing by Susan Fenton)

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