Walmart Inc. (NYSE:WMT) said it plans to invest $1.2 billion to build or renovate more than 10 distribution centers in China during the next 10 to 20 years.
The Bentonville, Arkansas-based company operates more than 20 distribution centers in China, which support 420 locations in 180 cities. The company opened its first distribution center in China in 1996 in Shenzhen. That same year, Walmart opened its first store in China, also in the same city.
The announcement, made July 1 in China and July 3 in the United States, comes on the heels of the March opening of its first perishable food distribution center in China, located in the southern tier of the country. That distribution center currently serves more than 100 Walmart stores, the company said.
In June 2016, Walmart and JD.com, a Chinese e-commerce firm, announced an alliance to combine e-commerce and brick-and-mortar resources in China.