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Chain businesses have witnessed a speedy development in Beijing and have made a large contribution to local economic growth and employment, said local commerce bureau.
By the end of June, Beijing had had more than 150 chain enterprises involved in retail sale and catering, with nearly 5,000 stores and shops scattered across the city, 1,735 of which were set up during the first half of this year.
In June alone, local chain businesses garnered 5 billion yuan (US$602 million) in sales, accounting for 27.8 percent of local retail sales, 18 percentage points higher than the level in 1999.
In 2003, six of chain enterprises based in Beijing were listed among the top 30 chain enterprises nationwide in terms of sales, and four of the six each registered more than 5 billion yuan in sales a year.
(Xinhua News Agency August 5, 2004)
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