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Wal-Mart reportedly is in negotiations with a Chinese real estate company about leasing space for its first store in Shanghai.

The company already has 26 outlets in China, mainly in the northern and southern parts of the country, but it has designs on eastern China, where both France’s Carrefour and Germany’s metro AG already have a foothold. There are have been published estimates that Wal-Mart plans to open another 60 stores in China by 2005.
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