China Daily is reporting that Wal-Mart Stores Inc. is planning to hire 150,000 people in China over the next five years as part of a major store expansion.

"We're really going to ramp this up," Joe Hatfield, chief executive of Wal-Mart Asia, told China Daily while touring stores in Shenzhen, Wal-Mart's China headquarters.

Hatfield said Wal-Mart, which has 56 stores open in China already, plans to add 20 more stores this year in an effort to compete with other chains -- like France's Carrefour.

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Source: China Daily