The city is striving to set up several large-scale retail chain
stores with more than 2,000 outlets during the 10th Five-Year
Plan period (2001-05), according to Vice-Mayor Feng Guoqin.
The city has decided
to spend the next five years focusing on the improvement of
co-operation between local enterprises and multi-national
retailers.
Feng is optimistic
about the ability of chain stores to increase retail profits
in the city.
He predicts that,
by 2005, the city's retail sales will climb to 250 billion
yuan (US$30 billion) with an annual growth of 8 percent.
There is reason
for Feng's optimism. According to economic forecasts, total
retail sales volume in the city is expected to hit 185.4 billion
yuan (US$22.4 billion) this year, or 8 percent more than last
year.
"It's possible
to realize the goal this year," Feng said.
There will be great
opportunities for the local commerce sector during the next
five years, according to Feng.
For the first time,
the city government has listed commerce as one of its five-year-plan
pillar industries.
"That means
the city government will pay greater attention to the growth
of commerce," Feng said.
The construction
of a new deep-water port and an international shipping port
in Shanghai are expected to contribute greatly to the improvement
of local commerce, as will the nation's imminent entry into
the World Trade Organization, according to Feng.
"At that time,
with the breakdown of regional protectionism, our products
will have an easier time traveling outside the city, to other
provinces and countries," he said.
(China Daily 03/07/2001)
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