On November 8, during the 8th China International Import Expo (CIIE), Vice Minister of Commerce Sheng Qiuping convened a forum with foreign-invested retail enterprises in Shanghai. Representatives from several foreign-invested retail companies participated in the discussions.

Sheng Qiuping emphasized that the retail sector is a foundational industry in China’s national economy, serving as a vital link between production and consumption and a key channel for realizing end-user consumption. He noted that retail plays a crucial role in guiding production, boosting consumption, creating jobs, safeguarding people’s livelihoods, and strengthening the domestic economic circulation—thereby contributing significantly to economic growth, social stability, and the people’s well-being. He added that China’s retail industry is currently large in scale, trending positively, and full of vitality, undergoing a period of rapid transformation.

Sheng further stated that the fourth plenary session of the 20th Central Committee of the Communist Party of China has charted the course for the future development of China’s retail sector. He extended a warm welcome to foreign-invested retail enterprises to expand their presence in China, expressing hope that they will remain confident in their long-term commitment to the Chinese market, serve as bridges for communication and exchanges, and jointly benefit from China’s development opportunities and achievements.

Participating foreign-invested retail enterprises affirmed their strong confidence in the Chinese market’s growth potential and the bright prospects of the Chinese economy. They expressed their willingness to pursue long-term development in China, increase investment, enhance innovation, and achieve sustainable growth by delivering high-quality products and good services to Chinese consumers.