Wal-Mart expanding in China

CNN's Emily Chang reports Wal-Mart is expanding across China as consumers cope with leaner economic times.

Welcome to Wal-Mart’s newest superstore in Beijing, one of the 115 stores in 63 cities across China. Almost all of the products here are local and geared toward the food-driven Chinese consumers. There is Chinese fruit, live seafood, even turtles.

Despite and global economic crisis, Wal-Mart is expanding in China, moving into smaller cities to tap a wider market. The strategy--that there is tremendous growth potential in China, even in hard times.

We say that this is a very unique opportunity to grow our business here and we are doing it through price leadership, ensuring that our customers can stretch that dollar that they have and buy the products that they need.

This is an example of foreign retailers digging deeper into the Chinese market amidst a chill on the global economy. But economic growth in China is the lowest it’s been in years. And Chinese consumers are already feeling the pinch. So it’s yet to be seen if Wal-Mart’s aggressive strategy in China will pay off.

Emily Chang, CNN Beijing.