Short answer: No, China does not owns Walmart. Walmart Inc. is an American multinational retail corporation listed at NYSE as WMT, which 51% if it is owned by Walton’s family.
Long Answer: However, is important to understand that in China, Walmart sold its Chinese e-commerce site, known as Yihaodian, to JD in 2016. Online stores, not physical stores.
China’s second largest e-commerce player after Alibaba, JD, now hosts Walmart’s groceries and other various products on its own online shopping platform. And more than 100 of Walmart’s roughly 400 stores in China double as warehouses for JD.
Despite the economical slowdown and strong online competition, the tie-up with JD and a further expansion into China puts Walmart in a stronger position to tap into the country’s growing appetite for fresh groceries and fend off competitors, including Alibaba.
Contact us for more on Doing Business in China