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The China market presents a compelling opportunity for retailers. China’s retail sector has long been firmly underpinned by solid demand fundamentals – massive population, rapid urbanization and an emerging consumer class. China’s economic growth model is undergoing a shift from investment-led growth to consumption-led growth. Supported by massive accumulated household savings and low household debt levels, China’s domestic consumption offers immense headroom for growth. In this report, we profile 30 major cities in China and the defining characteristics of key submarkets within them. This allows readers to see, for example, which area has traditional department stores, which area has a pedestrian street, and which areas are quickly emerging as the next retail hotspots. The profiles also show which areas are mature and which are still emerging. Equipped with this information, readers will be able to readily identify areas that are frequently discussed by local consumers in each city and serve as a starting point for a retail store rollout plan. It is our hope that this guide will provide a useful reference when talking about cities in China.
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24 September 2014