Sam's Club becomes 9,234th company settling in Xiamen FTZ
Sam's Club, a division of Wal-Mart Stores Inc., moved into the Xiamen free trade area on Feb 3, marking the first Sam's Club store to operate in Xiamen, Fujian province.
The 20,000-square-meter store is located at the Xiangyu bonded logistics industrial park, which is part of the Xiamen FTZ, and sells a wide variety of quality merchandise, including food, clothes, home appliances, and sundries.
As a membership-only warehouse club, Sam's Club helps members to save time and money by selecting cost-efficient products.
Xiong Yanliang, deputy director of the Xiamen FTZ, said that 9,234 companies that have settled in the FTZ have a combined registered capital of 131.5 billion yuan ($20 billion).
There are currently 879 projects in the pipeline to land at the FTZ, involving a total investment of 144 billion yuan.
Edited by Peter Nordlinger
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.