China 3C Group (CHCG.OB) Signs Wholesale Supply Agreement with Wal-Mart China
China 3C Group, a leading wholesale distributor and retailer operating over 900 retail outlets in Eastern China, entered into a supply agreement with Wal-Mart stores in Zhejiang Province to sell audio electronic equipment, including radios, stereo equipment and CD players, at all six Wal-Mart stores starting April 2008. This allows China 3C Group the possibility of expanding its distribution into other Wal-Mart stores that are located in Eastern China as well as other near provinces in the future. Wal-Mart currently has eighty-one stores in China with thirteen of those stores located in Eastern China. Mr. Wang Zheng-gang, Chairman and Chief…