THE booming mainland economy offers a bright outlook for commerce and retailing, says a mainland economist.
Commerce and retailing, together with financial services, were expanding their penetration throughout China, the deputy vice-director of the Shanghai Commercial Economic Research Centre Huang Chengzhi said yesterday.
''And among all the cities, Shanghai is the best place for the development of retailing, considering its history, environment and investment policies,'' Mr Huang told a symposium on the mainland consumer market.
Last year, Shanghai's total retail sales reached 48 billion yuan (about $64.65 billion), and by 2000 the figure has been tipped to reach 150 billion yuan.
''The rise in the living standard of average Shanghai households has created a demand for high-end consumer products such as refrigerators, air-conditioners and video-recorders,'' he said.
Mr Huang said the government's policy of freeing up the consumer market would allow rapid development of the country's tertiary industries - financial services, commerce, retailing, trading and tourism.
