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​Wal-Mart partners with Chinese e-commerce giant

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NEW YORK - Wal-Mart is partnering with China's No. 2 e-commerce site as the U.S. retailer experiences some growing pains online.

The company said Monday that it was giving ownership of its Yihaodian marketplace, including the brand, website and app.

Wal-Mart's Sam's Club China will open a flagship store on, and both companies will work to leverage their supply chains and broaden the range of imported goods.

Wal-Mart Stores Inc. (WMT), of Bentonville, Arkansas, will take a 5 percent stake in, or nearly 145 million newly-issued Class A shares in the Beijing company.

In February, Wal-Mart said global e-commerce rose 8 percent in the fourth-quarter, well below the 20 percent pace of growth just a few years ago.

Shares in surged 8 percent before trading was halted Monday.

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