WAL-MART TO ISSUE CREDIT CARD IN CHINA

Wal-Mart Stores Inc. will announce the issuance of its first credit card in China today. According to The Wall Street Journal, analysts believe it will be the first card issued by a foreign retailer in China. Currently less than 5% of the population of China has a credit card. Wal-Mart has approximately 60 stores in China and will initially introduce the credit card in six stores, eventually rolling it out across the country.