Ministry Of Commerce: Foreign Retail Enterprises Still Have A Good Prospect on The Chinese Market

On June 27, a spokesman for the Ministry of Commerce Gao Feng gave a reply to "Suning International, a wholly-owned subsidiary of Suning Ease, invested 4.8 billion yuan to buy 80% of Carrefour China" at a regular press conference held today.

Gao Feng pointed out that since the reform and opening up, foreign-funded retail enterprises have played an important role in China's economic development, not only providing high-quality products and services to consumers, but also bringing advanced management experience, promoting market competition and promoting industry development.

Regarding how the Ministry of Commerce views the withdrawal of foreign retail giants such as Tesco, Lotte Mart and Carrefour from the Chinese market, Gao Feng said that China's commercial retail industry is a fully competitive industry, and strategic cooperation and merger and reorganization are normal market behaviors and are also the results of market competition. With the wide application of Internet technology, new formats and models in the commercial field are developing rapidly.

Some foreign retail enterprises are still optimistic about China's consumption potential and hope to further expand the Chinese market by providing high-quality products and services to meet diversified, quality-oriented and personalized consumption needs. With the continuous release of China's consumption potential and the transformation and upgrading of consumption demand, China's market will have more development opportunities. Investors from all countries are welcome to continue to enter and expand the Chinese market. They will also make continuous efforts to create a more stable, fair, transparent and predictable business environment for all kinds of market players, including foreign-funded enterprises.

Regarding the integration and development of online e-commerce enterprises and offline businesses, Gao Feng pointed out that this is a new trend in the development of commercial retailing, including foreign investment. It can realize the complementary advantages of different formats and expand the comprehensive service space of the supply chain. It can not only promote the innovation and development of enterprises, but also provide better consumption experience for consumers. The Ministry of Commerce will continue to take active measures to promote the integration of online and offline interaction and promote the transformation and upgrading of China's consumption.

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