MINISTRY OF COMMERCE
PEOPLE鈥橲 REPUBLIC OF CHINA


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Recently, Suning International, a wholly-owned subsidiary of Suning.com, acquired an 80% stake in Carrefour China for RMB 4.8 billion. Following Tesco and Lotte Mart, Carrefour became another foreign retail giant to leave China. What is MOFCOM鈥檚 take on the successive exits of foreign retailers and the advances of online players to offline supermarket business? (2019-6-27)
  

Since reform and opening, foreign retailers have played an important role in China鈥檚 economic development, not only providing quality products and services for consumers, but also bringing advanced managerial expertise, promoting market competition and driving the development of the industry.

China鈥檚 commercial retail is a fully competitive industry, where strategic cooperation and M&A are normal market behaviors and results of market competition. With the wide application of the internet technology, new business types and models are developing rapidly, We鈥檝e noted that some foreign retailers are still bullish about China鈥檚 consumption potentials and wish to meet diversified, quality-oriented and personalized consumer demands with products and services of better quality, so as to further explore the Chinese market.

We believe that with the continuous unleash of China鈥檚 consumption potentials and the transformation and upgrade of consumer demand, the Chinese market will offer more development opportunities. We welcome investors across the world to continue to enter and explore the Chinese market and will work continually to create a more stable, fair, transparent and predictable business environment for all market players, including foreign-invested enterprises.

As for the integrated development of online e-commerce with offline supermarket business, we see this as a new trend in commercial retailing, including the foreign-invested sector. It can achieve complementarity among different business types and expand the comprehensive service space of supply chains to drive innovative business development while delivering better consumption experience for consumers. We will continue to take active measures to promote online-offline interaction and integration for China鈥檚 consumption upgrade. Thank you.

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