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inesses, McMillon said brick-and-mortar stores have become hybrid, and forward fulfillment centers.
He said Sam’s Club has been gaining strength in the country. The high-end m
embership store that was launched in China in 1996 has about 2 million members nati
onwide. By 2020, there will be 40 such clubs either in operation or in construction in the country. The format ha
s 23 stores currently in 19 cities stocking quality fresh food and membership products.
Globally Walmart has 11,300 stores, with a third of them large stores.
According to Kantar Worldpanel, in 2018 Walmart’s market share was 5.4 percent, an improvement from t
he 5.2 percent in 2017. Last year it opened 33 new stores, including 21 hypermarkets, four Sam‘s Club and eight compact stores.
Jason Yu, general manager of Kantar Worldpanel China, said Walmart has to roll out
more innovations to further improve its operational efficiency and achieve growth through
ina, the festival-which will be held through April 20-recently announced 15 nominated fil
ms, including The Composer, which will contend for the festival’s top honor, the Tiantan Award.
Inspired by a speech made by President Xi Jinping during his v
isit to Kazakhstan in 2013, the film looks back at the life of Xian, a music
ian who was once a household name and best known for his epic work, Yellow River Cantata.
When the Great Patriotic War (the Soviet Union’s defensive war again
st the invasion of Nazi Germany) broke out in 1941, Xian-who was assigned by the Commu
nist Party of China to work in Moscow-found himself stranded in Almaty, the largest city in Kazakhstan.
With the help of Kazakh musician Bakhytzhan Baikadamov and his family, Xian spent his final years living out the war in K
azakhstan, where he concentrated on writing music. In early 1945, the musician who was suffering fro
m multiple diseases was sent back to Moscow, where he died in a local hospital on Oct 30 the same year.
the foreign investment law, a landmark legislation that will provide stronger protection a
nd a better business environment for overseas investors. The law will become effective on Jan 1, 2020.
Artificial intelligence will bring about changes as fundamental as t
hose enabled by electrification, argues Li Kaifu, Chinese artificial intelligence specialist and fo
under of the venture capital firm Sinovation Ventures. He says that China is leading in real-world applications of AI to bus
inesses, factories and cities, and is catching up with the United States in basic research.
Li’s technological optimism contrasts with a widespread pessi
mism about technology prevalent among thinkers from Silicon Valley.
For example, famed venture capitalist Peter Theil uses the slogan “We wanted flying cars, ins
tead we got 140 characters” as the subtitle of his investment fund. In many interviews, he ha
s explained that we’ve seen “innovation in the world of bits, but not in the world of atoms”.
China and the United States are expected to come to an agreement soon over trade frictions, analysts said, as the negotiating teams a
re reported to be discussing the wording of an accord and considering applying the brakes to their tariff standoff.
They made the prediction after Chinese and US officials said there had been concrete p
rogress on multiple issues in the latest round of trade talks in Washington.
During the latest talks, held from Thursday to Sunday in Washington, the seventh round since February of last year, th
e two sides focused on the text of an agreement, the Chinese delegation said, according to a Xinhua News Agency report.
The negotiators also had made substantial progress on such specific issues as technology transfers, protection of i
ntellectual property rights, nontariff barriers, the service industry, agriculture and exchange rates, the delegation said.
On the basis of the latest progress, the two sides are expected to continue their work
into the next stage, in accordance with the instructions of the two countries’ top leaders, according to Xinhua.