Retail in Asia

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Wal-Mart’s Asia CEO: China will drive retail growth

Wal-Mart still buys heavily into the China story, despite slowing growth in the world’s second-largest economy, the retail giant’s Asia CEO and president Scott Price told CNBC on Tuesday.

Speaking at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Manila, Price said he expected China to drive more than half of the retail sector’s growth over the next decade.

Despite concerns about sub-7 percent economic expansion in China as it transitions from a manufacturing-led economy to a services-based one, Chinese consumers’ appetite for retail appears healthy.

(Source: CNBC)