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 DEVELOPMENT OF CHINA'S INDUSTRY |
| During the second year of comprehensive opening-up, China retail industry maintained steady growth like last year. Authoritative data from the national statistical offices reveal: in 2005 China's total retail sales actually increased by 12%, the highest since 1997, while the growth rate in 2006 was on steady growth, up to 12.6% in the first three quarters, and the total retail sales in 2006 was expected to reach about 7.6 trillion yuan, an increase of 13.5% compared to 2005. |
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| STATUS OF FOREIGN INVESTMENT |
| According to the statistics released by Ministry of Commerce, in 2006 there were 4,664 projects using foreign investment in wholesale and retail trade, up 79.25% over the same period of the previous year. The actually used foreign capital amount was 1.79 billion USD, up 72.3% over the previous year. |
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| COMMITMENTS TO THE WTO AND INTERNATIONAL PRACTICES |
| Wholesale trade services are under distribution services in WTO's sector catalogue of service trade, and the distribution services are generally covered by sector or sub-sector No. CPC 61, 62, 63 and 8929. |
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| DEVELOPMENT OF GLOBAL INDUSTRIES |
| In 2006, online retail developed rapidly. As revealed in a report based on data of 170 retailers, in 2006 online retail continued to advance at full speed and occupied a large share in the retail market. According to a survey by market research institutions Forrester, in 2006 World online retail grew by 25%, the sales totaled 220 billion U.S. dollars |
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