Wal-Mart has expanded its presence in China with the acquisition of a 35% stake in discount store chain Trust-Mart for an undisclosed sum.

The US retail giant already operates 68 stores in the country and the deal gives it an interest in a further 100 stores in 34 Chinese cities.

“Through this investment in Trust-Mart we have the opportunity to expand our presence in China, one of the world's fastest growing markets,” said Mike Duke, vice-chairman of Wal-Mart Stores.