Walmart Invests in China’s Report


Walmart invested in Chinese e-retailer, in a further indication of its interest in the developing nation's expanding online consumer base, the Financial Times reported Tuesday.

The US retail giant -- the world's largest, by sales -- was joined by five other companies taking a stake in China's biggest purveyor of web-based consumer electronics, which raised $500 million in the funding round.

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Walmart already has roughly 300 stores in China and launched an online retail presence for its warehouse retailer Sam's Club there last month.

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