Foreign investment in the retail sector of the People's Republic of China |
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| Institution: | 1. School of Civil Engineering, Southeast University, Nanjing 210096, China;2. Key Laboratory of Concrete and Prestressed Concrete Structures of the Ministry of Education, Southeast University, Nanjing 210096, China;1. National Institute of Economic and Social Research (NIESR), 2 Dean Trench Street, London SW1P 3HE, UK;2. Centre for Macroeconomics, UK |
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| Abstract: | For many years, manufacturing was the hottest sector in the Chinese market. But when free market retailing became legal again in 1978, China's retail sector took off. Joint ventures between large department stores, such as Yaohan Department Store of Japan and the Chinese state-run Shanghai No. 1 Department Store, are growing to take advantage of China's potential 1 billion new customers. Davies paints a clear picture of the industry and candidly discusses the problems surrounding this new market: over-estimates of consumer demand, retail price inflation, currency flow problems, and increased smuggling and counterfeiting. Yet he is optimistic that retailing can only grow when Hong Kong becomes part of China in 1997. |
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