2016年CRI China, US foresee better cooperation in retail sector

 

The 2016 Sino-American Retail¹ Summit, also the "Belt and Road" Initiative Global Retail Forum², was held in New York on Thursday morning local time, with industry leaders and experts from both sides attending. 

Xu Chen, Chairman of the China General Chamber³ of Commerce-USA, also President & CEO of Bank of China USA, says that outbound Chinese investment in the US is shifting their focus from traditional fields like real estate to new directions, for instance, the retail industry and the logistics industry. 

"For the retail industry and the logistics industry, I think more encouragement and support will be needed for their outbound investment. Investment of this category would bring up bilateral⁴ trade between China and the US, and also benefit small and medium-sized enterprises in this industry, for them to create more jobs for people."

Statistics show that China's gross retail sales peaked at 30 trillion yuan, or 4.47 trillion US dollars in 2015, while the US sales volume in the retail industry reached 4.7 trillion US dollars last year. 

The fast growing retail market in China has inspired many Chinese large-scale retailers⁵ to look for outbound investment and cooperation opportunities. 

Among the outbound Chinese investors⁶ in the US, 84% have been private companies, with small and medium-sized enterprises increasing. 

Roberto Ramos, Senior Vice⁷ President of Global Strategy and Communications at The Doneger Group, remarked at the summit that his confidence in the Chinese market and his expectation for China to be innovative⁸ in the industry. 

"I think the US and China are so intertwined, from the domestic might and force of the Chinese consumers, we are excited by the growth of middle class, the fact that you have these young consumers that are digitally active. I think there is high opportunity in the next five or ten years for China to start creating its own powerful lifestyle brands." 

Zhou Shanqing, Economic and Commercial Counsellor of the Consulate⁹ General of the People's Republic of China in New York, says that China and US enjoy a bright future of cooperation in the retail industry, despite different market policies and consumer culture. 

"The retail industry of US boasts advanced management and comprehensive structure, after a hundred years' development, which is worth learning by Chinese enterprises. Meanwhile, we also hope that US enterprises could find a better place in China's retail industry by grasping proper opportunities from China, where its domestic consumption continues to grow steadily¹⁰, and the traditional retail industry is seeking to transform and upgrade its industry structure."

The retail summit also deliberated on the winning strategies in the e-commerce era and explored the landscape of cooperation between the businesses.

1 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

2 forum   

n.论坛，讨论会

参考例句：

• They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
• The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。

3 chamber   

n.房间，寝室；会议厅；议院；会所

参考例句：

• For many,the dentist's surgery remains a torture chamber.对许多人来说，牙医的治疗室一直是间受刑室。
• The chamber was ablaze with light.会议厅里灯火辉煌。

4 bilateral   

adj.双方的，两边的，两侧的

参考例句：

• They have been negotiating a bilateral trade deal.他们一直在商谈一项双边贸易协定。
• There was a wide gap between the views of the two statesmen on the bilateral cooperation.对双方合作的问题，两位政治家各自所持的看法差距甚大。

5 retailers   

零售商，零售店( retailer的名词复数 )

参考例句：

• High street retailers reported a marked increase in sales before Christmas. 商业街的零售商报告说圣诞节前销售量显著提高。
• Retailers have a statutory duty to provide goods suitable for their purpose. 零售商有为他们提供符合要求的货品的法定义务。

6 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

7 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

8 innovative   

adj.革新的，新颖的，富有革新精神的

参考例句：

• Discover an innovative way of marketing.发现一个创新的营销方式。
• He was one of the most creative and innovative engineers of his generation.他是他那代人当中最富创造性与革新精神的工程师之一。

9 consulate   

n.领事馆

参考例句：

• The Spanish consulate is the large white building opposite the bank.西班牙领事馆是银行对面的那栋高大的白色建筑物。
• The American consulate was a magnificent edifice in the centre of Bordeaux.美国领事馆是位于波尔多市中心的一座宏伟的大厦。

10 steadily   

adv.稳定地；不变地；持续地

参考例句：

• The scope of man's use of natural resources will steadily grow.人类利用自然资源的广度将日益扩大。
• Our educational reform was steadily led onto the correct path.我们的教学改革慢慢上轨道了。