Yantai Huang-Bohai New Area and Wal-Mart Sign Letter of Intent for Sam's Club Collaboration

Deep News11-04

The city of Yantai and Wal-Mart China Investment Co., Ltd. successfully held a cooperation and exchange event on the morning of November 3.

During the event, the Huang-Bohai New Area Management Committee signed a letter of intent with Wal-Mart China Investment Co., Ltd. for a Sam's Club collaboration, marking the official arrival of Sam's Club in Yantai.

This signing represents a new layout by Wal-Mart in Shandong Province and a new initiative by Yantai to cultivate new commercial formats.

It is reported that the Yantai Sam's Club project will establish a membership-based warehouse supermarket serving Yantai and its surrounding areas, injecting new momentum into the development of modern service industries and consumption upgrading in Yantai and neighboring regions.

In the future, Yantai and Wal-Mart China Investment Co., Ltd. will use the first Sam's Club store in Yantai as a starting point to encourage Wal-Mart to increase investment of high-quality resources in Yantai. Leveraging the synergy between Wal-Mart stores and Sam's Club's dual business formats, they will deepen supply chain coordination and integration, and promote more "Yantai quality products" to enter the Wal-Mart supply chain system, achieving mutual empowerment between enterprise development and urban prosperity.

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