Shanghai's Retail Market Exceeds 25 Billion USD

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Last updated at: (Beijing Time) Thursday, January 23, 2003

Shanghai's Retail Market Exceeds 25 Billion USD

The vice-mayor of Shanghai says the city's retail market surpassed a record 25 billion US dollars in 2002, accelerating its progress towards becoming an international trade center.

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The vice-mayor of Shanghai says the city's retail market surpassed a record 25 billion US dollars in 2002, accelerating its progress towards becoming an international trade center.

With its current retail scale, the city has for the first time reached the basic criteria of an international trade center city, said Feng Guoqin in a recent commercial work meeting.

Market sizes of most of the major international trade center cities were more than 25 billion US dollars, said Feng.

They had huge numbers of commercial visitors, normative market trading environments and world class trade and commercial enterprises, he said, adding that Shanghai could follow suit.

Shanghai's commerce had matured with its consumer groups taking more international, diversified and mature attitudes, said Feng.

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