Foreign capital takes more chances in China's commercial sector

Huang Hai, assistant with Chinese Commerce Minister, thinks changes have proved December 11 last year a symbol of a new stage for the opening-up of the commerce sector.

He said there was an evident increase in applications for foreign funded commercial businesses since then. More foreign investors than ever are eyeing the wholesaling market. This contrasts their indifference to the wholesaling business which was open to them as early as 2003.

Business of foreign retailers vary in China. Shopping centers, department stores and internationally branded outlets in particular are flocking in.

There is a growing interest in the Chinese retailing market from small and medium sized overseas players. Most of them are based in Asia.

Mergers and acquisitions are more active than ever.

By the end of last year, China had given green light to 304 foreign investors which was running 3915 stores with business area of more than 8.28 million square meters. The contracted foreign capital valued 5.13 billion USD.

By People's Daily Online