|
The expansion of international retailers in the global market has brought enormous opportunities for Chinese suppliers, according to leaders of giant retailing companies.
"At least 64.2 per cent of our international sourcing is coming from China," said Tatsuichi Yamaguchi, executive vice-president of Aeon Corporation, Japan's biggest chain retailer, on the sidelines of the International Retailers' Global Sourcing Fair which kicked off on Friday in Nanjing, capital of Jiangsu Province.
"We believe Chinese suppliers will occupy a larger proportion in the global market," he emphasized in his speech at the high-level forum that covered the themes of the global consumption market and international sourcing.
Ever since China fully opened its doors to global retailers at the end of 2004, 554 foreign-funded retail stores have been opened during the past nine months of this year, according to Huang Hai, assistant minister of Commerce.
However, in the previous 12 years, only 314 foreign-funded retail stores were opened altogether.
"It has become a trend for those global retailers to set up their sourcing centres in China," said Huang.
Statistics from Wal-Mart, the world's No 1 retailer, show that, with a 30 per cent year-on-year increase, the corporation's total value of exported Chinese commodities has grown from US$1 billion in 2000 to US$1.8 billion in 2004, which makes up 15 per cent of total exports to America.
"It is a renaissance of the traders' society," said Jean-Luc Tuzes, president of Jinjiang Cash & Carry Co Ltd at the forum.
He discussed the future extension of Cash & Carry in China. In addition to the present 27 stores, they expect to open six to 10 new stores every year in China over the next three or five years.
Foreign retailers have also been giving advice to Chinese suppliers and producers.
For example, Yamaguchi attaches great importance to the quality of the products.
"About 90 per cent of our customers read about the product before buying something, and they will pay much attention to the product quality," he said.
Wal-Mart always tries to find co-operative factories or suppliers that use the most environmentally-friendly practises, according to John Huang, general merchandising manager of China Hardline Wal-Mart Global Procurement.
"From next year onwards, we will give priority to those 'green' factories as our co-operators," he said.
The fair, running from November 4 to 7, will have more than 500 professional buyers from 12 countries and regions and over 20 international retailers such as Wal-Mart, Carrefour, Aeon. There will be over 100 exhibition platforms at the Nanjing International Exhibition Centre.
Additionally, there will be about 140 domestic purchasers, such as domestic key retailers such as Lianhua Supermarket, Yongle, Suning, and Suguo Supermarkets and Nanjing Xinbai Holdings.
(China Daily November 5, 2005)
|
