Guangming District authorities and Walmart China Investment Co. signed a strategic cooperation agreement Sept. 2, paving the way for Sam’s Club to open a store in the district.

The move comes as Guangming’s population and consumer market continue to expand. Over the past five years, the district’s registered population has grown at an average annual rate of 18.53%, while the average age of its residents is 33.9, according to official data.

The Sam’s Club store is expected to offer more premium retail options for local residents. Its arrival could also help attract other high-end brands and strengthen the district’s commercial appeal.

The store is also expected to benefit consumers from Hong Kong. This summer, the number of visitors from China's Hong Kong, Macao and Taiwan to Guangming rose 60.5% year on year, while the number of hotel stays by Hong Kong visitors increased sharply at key monitored properties.

Currently, Hong Kong residents can reach Guangming by high-speed rail in about 30 minutes. A future trip to the Sam's Club could also be combined with visits to local attractions including Honghuashan Park, Shenzhen Science and Technology Museum and Shenzhen International Art Museum.

The project reflects Walmart’s confidence in Guangming’s growing consumer market and its development as a new commercial hub in Shenzhen.