E-commerce & Instant Retail
Noise and Ups and Downs: 30 Years of Foreign Retail in Mainland China
In 1992, the State Council issued the "Approval on Issues Concerning the Use of Foreign Investment in the Commercial Retail Sector," officially allowing foreign enterprises to enter the retail industry in specific regions through joint ventures. This marked the beginning of the opening up of China's retail sector, initially limited to six cities and five special economic zones, and only in clothing and department stores. Over the next three decades, foreign retailers like Walmart, Carrefour, and Metro experienced rapid expansion and later faced challenges from e-commerce, leading to transformations, closures, or exits.
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