Current location:world >>
Foreign retailers buoyant on Chinese market
world9People have gathered around
IntroductionForeign retail enterprises have recently begun accelerating their layout of business in China, denot ...
Foreign retail enterprises have recently begun accelerating their layout of business in China, denoting the firm confidence of foreign investors in the retail sector in the sustained and sound development of China's economy, China Youth Daily reported on Wednesday.
US retail giant Costco opened a new store in Shenzhen of Guangdong province in January; Japan's Lawson Convenience Store set up its headquarters in Shandong province in February; the Swedish leading global house ware retailer IKEA expanded its investment to further meet the diversified customer demands from China.
The Chinese market has become a touchstone to enhance core competitiveness for many foreign retail enterprises.
With the steady improvement of the income level of Chinese people, consumer demand now leans toward a more personalized, higher-end path, and consumers have put forward higher requirements for market supply.
For a company that has been investing in the Chinese market for over two decades, the global sports goods retailer Decathlon has been continuously increasing its investment in the Chinese market.
Furthermore, the company has its own industrial chain through building its intelligent manufacturing, purchasing center and logistics park to better meet the consumers' demand in China.
Both the industrial and supply chain are more completed in China's retail industry; this means becoming more competitive in this environment requires retail enterprises from both domestic and foreign enterprises to keep up with the demand in upgrading consumption, and by providing products and services with better quality.
Ingka Group, the parent group of the Swedish leading global house ware retailer IKEA, has invested 492 million yuan ($68.45 million) on its Beijing-Tianjin consumer distribution center in Baodi district of Tianjin opened last year, a demonstration of the company's determination of long-term development in the Chinese market.
The urbanization rate of China's permanent residents reached 66.2 percent in 2023, and there is still potential for new-type urbanization, said the report.
The steady growth of new-type urbanization is going to generate more demand on consumption and investment, and both Chinese and foreign enterprises can expect more opportunities.
Some 400 new shopping centers were opened in China in 2023, according to the Chain Store &Franchise Association.
The return on direct investment is about 9 percent for foreign investors in China over the years, maintaining a relatively high level internationally.
In January 2024, 4,588 foreign-invested enterprises were newly established nationwide, up 74.4 percent year-on-year.
In terms of the financial performance, the foreground of China's development and intention to invest in China have all improved in 2023 for most of the surveyed American companies located in China. This also manifests that they will maintain their presence in China, according to a research report via the American Chamber of Commerce in China.
Multinational enterprises are bullish on China's economic recovery potential and development prospects. The country is promoting opening-up and committed to upholding global trade and investment liberalization and facilitation, encouraging multinational enterprises to invest in China.
"China has continued to advance the reform of foreign investment measures and stepped up efforts to promote investment, protecting the legitimate rights and interests of foreign investment, and continuously improving the utilization of foreign investment," said Cui Fan, a professor at the University of International Business and Economics in Beijing.
He added that the key area of accelerating construction of a new development pattern is by making China's ultra-large market more attractive and improving business environment for foreign investment.
China is devoted to granting easier access for foreign investment, after reductions on the negative list of foreign investment access had been shortened from the original 190 items down to 31 nationwide, and 27 in the pilot free trade zone.
All restrictions on foreign investment in the manufacturing sector are projected to be lifted this year, and China will ease the access for telecommunications and medical care sectors.
China will continue to push for a higher level of opening-up to the world more thoroughly and in a wider range of fields at a deeper level, and continue to provide new opportunities, the report said.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Culture Chronicles news portal”。http://spratlyislands.fivesixgroup.com/html-74e199855.html
Related articles
NBA playoffs: Edwards leads Wolves to 98
worldDENVER (AP) — Anthony Edwards overcame a slow start and the Timberwolves roared back from a 20-point ...
【world】
Read moreRepublican AGs attack Biden's EPA for pursuing environmental discrimination cases
worldST. LOUIS (AP) — Republican attorneys general attacked the Biden administration’s stated goal of pur ...
【world】
Read moreThe 2024 Latin Grammys will return home to Miami after a controversial move to Spain
worldThe 2024 Latin Grammys will return to Miami — where the Latin Recording Academy is headquartered.The ...
【world】
Read more
Popular articles
- Why US Catholics are planning pilgrimages in communities across the nation
- Scottie Scheffler had a quick Masters celebration. Now, it's time to get back to work
- Charges dropped against suspect in 2016 cold case slaying of Tulane graduate
- The Rockies have placed Kris Bryant on 10
- Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
- Rita Ora sets temperatures soaring as she rocks a stylish all
Latest articles
Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
Despite security risks, plans to open Paris Olympics on River Seine remain unchanged and on track
Fans hail new drama miniseries as a 'masterclass in acting' and demand star is given an Emmy
Mama June admits she's now trying new weight loss drug after 'packing on' 130lbs
Insider Q&A: CIA's chief technologist's cautious embrace of generative AI
Brittany Mahomes pays tribute to 'hotttttt' husband Patrick amid dad
LINKS
- Spring Festival TV gala to delight global audience with traditional culture, cutting
- Feature: Angolan youth embrace Chinese language learning for future careers
- Dramatic intervention by Labour Deputy's ex
- Holliday's first hit helps the Orioles rally to a 6
- Inside the China Online Audiovisual Annual Gala
- Roma's match at Udinese called off after defender Evan Ndicka collapses
- Wife of ex
- 'Wearing garden on the head' in Fujian attracts visitors
- Article 20 still leads China's box office chart
- How brave Louise Thompson's life has changed from her reality TV days: From a fun