2017 is set to be another transformative year for China’s commercial sector as even wider adoption by Chinese consumers of mobile Internet and other digital technologies powers faster growth within the “New Retail Regime”, as well as more innovative business models and practices. According to the 2017 edition of the annual Ten Highlights of China’s Commercial Sector, released on Jan 19 by Fung Business Intelligence, GDP is expected to grow by 6.7% and retail sales by 10.2%, respectively in 2017.
Ten Highlights of China’s Commercial Sector, now in its 14th edition, is considered a “must read” for global retailers, international firms, entrepreneurs and scholars aiming to understand China’s latest commercial trends, issues, opportunities and challenges.
“In producing this year’s report, Fung Business Intelligence was pleased to once again join forces with our Beijing research partner, the Secretariat of the Expert Committee of the China General Chamber of Commerce,” said Fung Business Intelligence Managing Director Mr. Chang Ka-mun. “Together, we have garnered the views of over 170 leading experts in a report that we believe points the way for key development trends in China’s commercial sector over the coming year.”
The Ten Highlights forecast for 2017 are as follows:
1. Consumer market continues steady growth; strengthening role of consumption to drive economic growth
2. Government issues multiple policies to support circulation industry development and facilitate supply-side reform
3. Online retail sales growth decelerates; e-commerce players aim for new growth paths
4. Smart business models emerge; social networks become new marketplace for commerce
5. “New Retail Regime” sees emergence of new retail formats and business models
6. Lifestyle service sector proliferates; growth engine for the commercial sector
7. Building a trustworthy business credit system
8. Strengthening agricultural produce circulation; contract farming gains attention
9. New forms of business collaboration; outbound M&A activities prevalent
10. Financing through public listing; smart logistics bring new opportunities to logistics sector
The Chinese version of the report was launched in Beijing on Jan 18.
Photo: From left to right: Chang Ka Mun, Managing Director, Fung Business Intelligence; Teresa Lam, Vice President (Asia Distribution and Retail), Fung Business Intelligence; Lucia Leung, Research Manager (Asia Distribution and Retail), Fung Business Intelligence.