Business Intelligence on Retailing, Franchising, and Consumerism in China

Beijing's Retail Sales And POS Use Increased In 2009

At a meeting convened by Beijing Municipal Commission of Commerce and covering sectors in Beijing in 2010, it was reported that in 2009 retail sales in Beijing were CNY530.99 billion, an increase of 15.7% year-on-year.

According to statistics published during the meeting, in 2009 the volume of transactions completed with bank cards and credit cards on point of sale terminals in Beijing reached a record high of CNY488.93 billion, a year-on-year increase of 58%.

Lu Yan, the director of the Beijing Municipal Commission of Commerce, said at the meeting that Beijing aims for retail sales growth of between 12% and 16% in 2010, to a total of around CNY600 billion. At the same time, taking 2010 as the beginning of Beijing's global city strategy, the commission will make every effort to make Beijing an international trade center.

In 2009, Beijing introduced 223 foreign brand specialty stores. Lu said in 2010, they will use at least USD5 billion in foreign investments to maintain the level of foreign trade.

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