The Ministry of Commerce in China has approved Walmart's bid to buy a controlling stake of Chinese e-commerce company Yihaodian, part of Walmart's bid to increase its global retail presence. Prior to the approval, Walmart already possessed a 17.7 percent share in Yihaodian, one of the fastest-growing e-commerce companies in China. In February, the retail giant announced a plan to increase that investment to about 51 percent. The Chinese Ministry of Commerce has approved that buy, but its OK was combined with conditions. 
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