Wal-Mart Plans to Add Stores in China

Wal-Mart Stores Inc., the world’s largest retailer, plans to open as many as 15 stores in China next year.

Wal-Mart, which has 40 outlets in major cities such as Beijing and Shenzhen, will focus on smaller provincial cities, Joe Hatfield, chief executive for Asia at the Bentonville, Ark.-based company, said

U.S. and European retailers are stepping up plans to expand in a $553-billion retail market now dominated by Chinese companies such as Shanghai Bailian Group.

Wal-Mart shares rose 30 cents to $54.15 on the New York Stock Exchange.