Guangzhou Retail

Asian Cities

1H 2015

 

City overview
Guangzhou, the commercial and trade centre of southern China, has witnessed fast growth in both city construction and economic development in recent years. In 2014, Guangzhou’s GDP reached RMB1,670.6 billion, up 8.6% year-on-year (YoY), higher than the national level of 7.4% YoY.

Forbes China ranked Guangzhou as the best city for business in 2014, for the second consecutive year, scoring highly in infrastructure for both cargo and passenger traffic. Compared to last year, Guangzhou also gained strength in the human resources and innovation index. Moreover, retail sales in Guangzhou witnessed strong growth over the past ten years. Between 2004 and 2014, retail sales registered a nominal compound annual growth rate (CAGR) of over 16%, making the city’s retail market one of the fastest growing in mainland China. In 2014, retail sales totalled RMB769.8 billion, with YoY growth at 12.5%, which places Guangzhou third among first-tier cities, after Shanghai and Beijing.

 
 

Key contacts

Simon Smith

Simon Smith

Senior Director
Research & Consultancy

kamaco Two Exchange Square

+852 2842 4573

 

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