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Wumart Stores Inc, one of China’s largest retailers, signs a contract with Jiading Industrial Park, in the city of Shanghai’s Jiading district, on Jan 7. |
Wumart Stores Inc, one of China’s largest retailers, signed a contract with Jiading Industrial Park, in the city of Shanghai’s Jiading district, on Jan 7, to announce the formal settling of its East China headquarters.
The 62,000-square-meter HQ site will have an industrial service site that combines purchasing, production, distribution and sales to run a supply chain, logistics, storage, E-commerce, and exhibition services.
Wumart has more than 800 stores across the country and two listed companies - Wumart Group Co and the Xinhua Department Store – and has had annual sales above 30 billion yuan ($5 billion) in recent years, paying taxes of more than 1 billion yuan.
Now, with the Eastern China HQ moving to Jiading Industrial Park, a dozen foreign-funded projects involving Benteler, Volvo, Autoliv, Schindler, Fiat, Sandvik, Mann Hummel and Chinese-backed companies have shown an interest in the Park, bringing R&D, sales, capital, and management advantages, as well as increasing economical interaction between second and tertiary industries, and increasing the park’s popularity and providing tax revenues and employment.
Edited by Lin Hong and Roger Bradshaw