China becomes the world's 6th largest retail market

Apr. 23, 2009 (China Knowledge) - China has become the world's sixth most popular retail market in 2008, with the number of international retailers rising to 42% from 37% a year earlier, according to the latest annual retail research report by CB Richard Ellis, the world's largest commercial real estate services provider, the Shanghai Daily reported on Wednesday.

At city level, London has 60% of the world's top retailers, ranking the first one on the list. In addition, two Chinese cities secured rankings on the world's top 15 retail list in 2008. Beijing was at No.15 with 36% of global retailers present while Hong Kong ranked 13th with 37% of global retail stores.

The company, which conducted surveys in 280 top retails in 67 countries, said that some international retails have narrowed down their expansion into some countries but most chose to continue expanding worldwide in the past year, with more than 40% of new outlets opened outside their home region, according to the report.