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China Briefings

Reports on China issued by Samsung Economic Research Institute

China's Retail Market Opening and Its Implications

China's Retail Market Opening and Its Implications

Samsung Economic Research Institute Beijing Office

Oct. 12, 2006

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As China's economy has rapidly developed, so has the nation's retail sector. Chinese wholesale and retail sales have experienced 16.3% annual increases from 1994 - 2005. For the first seven months of 2006, retail sales rang up 3.59 trillion Yuan (US$454.2 billion), up 13.4% from the same period last year.

The retail market opening has changed the structure of retail business, increasing the presence of chain stores and other large-scale operations in China. Chain-store management has become one of the common business structures adopted by foreign operators as well as local ones.

For example, sales of retail chain stores in China rose 27.1% in 2005 year-on-year, posting 1.1 trillion Yuan, which accounted for 60.5% of the total retail sales amount. The share of chain-store sales in the total is, however, still small, which portends well for future growth

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