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International retail purchases in China rise
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16:12, July 02, 2009

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The fourth International Retail Group Purchasing Fair just came to an end in Nanjing. Over 10,000 types of commodities in 400 categories were purchased by 47 International retail groups, translating into nearly 6 billion yuan of signed contracts, the largest amount of deals in the event's history. Both domestic and overseas buyers and suppliers signed purchasing contracts and agreements with a total value of 14.185 billion yuan, an increase of 89 percent compared to the previous event.

China's export situation remains grim because of the global financial crisis, with a decline in the total import and export volume for seven consecutive months. However, it was generally agreed by all the international retail giants participating in the event that China's products remain very competitive and they will increase their purchases from China.

Ten international retail giants including Wal-Mart, Carrefour, Auchan, Metro and E-mart also submitted "export purchase lists" for the first time, indicating that they will sell Chinese commodities abroad.

This fair had 86 stands for international buyers on site. The total area of the exhibition covered 40,000 square meters. Some world-renowned brands participated in the event for the first time. International brands like H&M and Beaumanoir brought new purchasing philosophies and distribution channels. Furthermore, firms like Far Eastern Group SOGO (Taiwan) and Universal Retail Holdings Limited came to the fair for the first time to attract business.

By People's Daily Online


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