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| Ministry Releases Trade Plan |
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The Ministry of Commerce recently issued the 11th Five-Year Plan (2006-10) on China's trade development, aimed at promoting foreign trade. According to the plan, during the five-year period the annual average growth rate of sales revenue for both consumer goods and production is forecast at about 11 percent. The annual average growth rate of sales for retail, wholesale and the catering industry is estimated at about 9 percent, while sales revenue from retail, wholesale and the catering sector is expected to account for about 10 percent of the country's gross domestic product. By 2010, China's foreign trade sector is expected to employ 71 million people, accounting for 5.2 percent of the nation's population. The annual average growth rate of local chain stores is expected to reach 21 percent, while the proportion of their sales compared to consumer goods is expected to be 25 percent. The report also predicts that about 15 to 20 local trade companies will become national and international influential brands by the end of 2010, while a slew of regional giants are expected to emerge. (China Daily August 25, 2006) |
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