Date
23 October 2017

Retail industry forecast to grow 10%, Xinhua says

China’s retail industry is on course for 10 percent growth this year, the official Xinhua news agency reported Tuesday, citing Guo Geping, chairman of the China Chain Store and Franchise Association. Convenience stores and supermarkets showed the most growth in the third quarter at 13.3 percent and 13 percent, respectively. Department stores and specialist shops expanded the least at 7.4 percent and 6.5 percent, respectively, the report said. Retailers in general continue to experience slower sales this year, with some operators in certain regions facing increasing pressure, Guo was quoted as saying.

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