Wal-Mart is speeding up its expansion plans in Chongqing, according to a municipal government website. In addition to a new store that opened at the start of this year, the world’s largest retailer will invest US$16.9bn to open a further four large stores, each covering an area of more than 10,000 sq metres.

Wal-Mart currently has five stores in Chongqing, and the number will expand to nine by the end of 2009. This will make Chongqing the company’s second largest market in China, after Shenzhen in Guangdong province.