Wal-Mart to expand in Fujian: report

Wal-Mart Stores Inc will accelerate its expansion in southeast China's Fujian province, the Strait News, a local newspaper in Xiamen, reported on Thursday.

The world's largest retailer by revenue will open a hypermarket in Fuzhou city and another Sam's Club in Xiamen city later this year, the paper said.

Last year, Wal-Mart said it will open 100 stores in the next three years, compared with about 50 store openings annually in the last few years.

China is one of Wal-Mart's fastest-growing markets. By March 2012, the retail giant said it had 370 stores in the country.