By Rui Hu, Editor

At the 19th Asia Pacific Retailers Convention and Exhibition International Consumer Goods Expo on September 7, China General Chamber of Commerce and China National Commercial Information Center released 2018 China Top 100 Retailers, with their total sales exceeding seven trillion yuan. Remarkably, the sales of seven enterprises exceeded 100 billion yuan.

The contract signing ceremony between companies from Shanghai and Chongqing during 19th Asia Pacific Retailers Convention and Exhibition International Consumer Goods Expo

According to the released data, in 2018, China’s consumer goods market continued to maintain a steady growth trend in quality improvement, with the total retail sales of consumer goods topping 38.1 trillion yuan, a year-on-year increase of 9.0%. The absolute increase reached 3.2 trillion yuan, despite the growth rate dropped by 1.2%. Consumption contributed 76.2% to China’s GDP growth, further consolidating, and enhancing its contribution to economic growth.

Retailer`s products on exhibition

The top 100 retailers achieved steady and fast growth as they accelerated their transformation, readjusted commodity structure, and enhanced product quality and experience through innovation and information technology applications. Moreover, the data show that in 2018, the sales of China’s top 100 retailers achieved 7.35 trillion yuan, up 20.5% year on year, 5.5% percentage points lower than that of 2017. Their sales accounted for 19.3% of total retail sales of consumer goods, 2.7% percentage points higher than that of 2017.

The list showed that seven enterprises achieved sales of over 100 billion yuan, namely Tmall, JD, Pinduoduo, Suning, Dashang Group, Gome, and China Resources Vanguard. In addition, 67 enterprises achieved sales of 10 billion yuan. The threshold of the list was 4.5 billion yuan, 20 million yuan higher than that of 2017. Tmall and JD topped the list with sales of 2.45 trillion yuan and 1.68 trillion yuan respectively.

Proposal for the Federation of

Asia-Pacific Retailers Associations

Peace and development are the themes of the times in today’s world. Economic globalization, world multi-polarization, and regional integration have further developed. The new round of scientific and technological revolution and economic transformation has strong momentum and a great impact on the development of the retail industry. Business and retail colleagues in the Asia-Pacific region have recognized that business development and market prosperity play an important role in promoting economic growth, social prosperity, and the well-being of residents in the region and the rest of the world.

Facing the current complicated international economic situation, members of the Federation of Asia-Pacific Retailers Associations (FAPRA) participating in the 19th Asia-Pacific Retailers Convention and Exhibition (19th APRCE) in Chongqing China, issued the following initiatives to the retailers and related industries in the region:

We hope that FAPRA members and retail companies will strengthen international trade cooperation, promote regional economic exchanges, promote global trade integration, and support the multilateral trading system to better adapt to the needs of the region and the world's economic development and changes; we believe under the joint efforts of FAPRA members, it will provide a strong impetus for the continual growth of the world economy and open up a broader space for the development of the Asia-Pacific retail industry.

Initiators:

Federation of Asia Pacific Retailers Association

China General Chamber of Commerce

Malaysia Retailers Association

Philippines Retailers Association

Indonesia Retailers Association

Japan Retailers Association

Korea Retailers Association

Hong Kong Retail Management Association

Retailers Association of Chinese Taipei

Association of Vietnam Retailers

Fiji Retailers Association

Thai Retailers Association

Myanmar Retailers Association

Singapore Retailers Association

Chamber of Commerce of Kyrgyz

Sri Lanka Retailers Association

September 7th, 2019 Chongqing China

Source: Chongqing Daily
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