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China's value chains


Retailing is one of the fastest expanding non-industrial sectors in China, and there appears to be plenty of room for further growth. The chain store association reports that sales by the top 100 retail groups have been rising by an average of 40 per cent a year. But they still account for only 10 per cent of total sales, which have been growing by 8-15 per cent year-on-year since 2003. While small local shops remain the norm in much of China, units are getting bigger. At the top...

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