(Yicai) Dec. 28 -- Sam's Club, a unit of US retail giant Walmart, has opened its sixth membership-only store in Shanghai.

The new store began operations today in the eastern Chinese megacity's Jiading district. Sam's Club opened its first outlet in Shanghai in 2010 and the fifth about seven months ago.

Sam's Club entered China in 1996 and has since then opened 47 stores in 25 Chinese cities. It plans to open six to seven new stores each year in the future.

As members seek more cost-effective products, Sam's Club announced it would cut the prices of dozens of goods that members can buy daily, including Australian beef rolls, frozen salmon, and Member's Mark items, Shanghai Observer reported.

Walmart China achieved net sales of USD4.5 billion in the three months ended on Oct. 31, up over 25 percent from a year earlier, according to the company's third fiscal quarter earnings report.

Sam's Club remained Walmart's leader in terms of digital penetration and innovation, Walmart's chief executive said during the earnings conference call.

Sam's Club's retail and digital businesses in China are perfectly balanced, accounting for 50 percent each, according to Walmart's chief financial officer. The firm's Chinese team has seized new opportunities and developed delivery models to provide consumers with omnichannel services quickly and accurately.

However, the market competition is becoming increasingly fierce, with membership stores including Alibaba Group Holding's Freshippo, Costco Wholesale, and Metro, expanding in the Chinese market, analysts said.

Editor: Futura Costaglione