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Although the global financial crisis is still holding the world economy back, Beijing managed to attract over 200 world retailers to open stores in the first half of 2009.
Our reporter Zhang Cheng has more.(www.hXen.com)
Forbes ranked the world's best cities for shopping on the basis of how many of the world's top retailers have outlets in each metropolis.
Beijing leapt into the top 15 with 36% of the world's biggest and best stores open for business within its territory.
Prof. Huang Guizhi is an expert on the retail industry with Beijing Technology and Business University.
"Being given the title of one of the world's best shopping sites means Beijing's retail business is becoming global. It also means the city will develop even faster. This is the start of a trend."
And in the first half of 2009, H&M, Zara and other foreign retailers have expanded their presence in Beijing.
Xu Kang is the spokesperson for the Beijing Municipal Commission of Commerce.
"Many world famous retailers have opened flagship stores in Beijing. Moreover, Wal-mart, Carrefour, Auchan have all expanded their investments. In the first six months, Beijing has approved more than 200 applications from world renowned retailers to open new stores in the city, the total of which will cover a construction area of 370,000 square meters."
Swedish clothing retailer H&M opened its first store in Beijing in April.
Brand manager, Wu Shuang, says H&M sees great business potential in the capital city.
"We have a busy schedule and we are preparing to open another three shops in Beijing following the success of the first two shops. We believe the buying sentiment is on the way up in Beijing; and shoppers in Beijing will enjoy many more options."
Wu Shuang is very confident that with large consumption potential and a large group of fashionable buyers, Beijing is definitely the destination for business.
Zhang Cheng, CRI News.