Analysis of China's Retail Industry to Promote Sustainable Development

The retail industry is now going through shuffle, and also after the restructuring and expansion of the Chinese market, it will be occupied by more than a dozen Chinese retail enterprises and several foreign retail enterprises. After China entered the WTO, foreign retail line speeds up development in China, local retailers also resist foreign retail enterprises while accelerating their own development. Regional retail market continues to be a national leader and global retail business retail swallowed, although regional retail enterprises mastermind have regional customer emotional support and government protection, but eventually those who have the ability survive, the market economy is the constant for metabolism and eliminating the weak. China retail does not really start opening up from WTO. As early as 10 years ago or even earlier, there are Metro, Wal-Mart and other foreign supermarkets in Shanghai, Beijing and Shenzhen. 1998, when the Commerce Department investigators came to China to do research when preparing to join the WTO, they unexpectedly found that despite there were really only four foreign retailers with the approval of the pilot countries, but actually there were 84 stores. When in November 2001 China formally joined the WTO, in fact half of the world's top 50 foreign retailers have entered China, of which 90% is through the local government's "understanding" and illegal entry. Since commercial distribution industry itself does not belong to the specifically protected state-owned monopoly industries, so in the last three years although the competent authorities in WTO gradually liberalize the restrictions on foreign retail enterprises in accordance with the equity ratio of China's WTO commitments, geographic scope and operation, but activity level of foreign retail in the Chinese mainland and maturity of layout are far beyond China's WTO commitments timetable. In the meantime, two main ways, the transformation of existing state-owned commercial system and emerging private capital, constitute domestic retail enterprises, but also grow under the foreign pressure and in large environments of the opening markets. At this point, retail enterprises and foreign -funded retail enterprises' competition with each other, game, joint ventures and other actions becomes more complicated.