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The New Retail Economy of Shanghai

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  • SHUGUANG WANG
  • YONGCHANG ZHANG

Abstract

ABSTRACT As Shanghai strives to build itself into an international center of finance, trade, and commerce, a new retail economy has evolved accordingly. In the past two decades, its retail sector has been transformed from a simple and inefficient distribution system to a much more complex and highly competitive market‐oriented economy. The new retail economy in many ways resembles the contemporary capitalist retail economy in the Western cities, but it also exhibits significant differences with Chinese characteristics. While the affluent consumer market is the necessary condition for sustained retail growth, it is the retail deregulation that has been the fundamental driving force for the structural changes in Shanghai's retail sector. Its liberal policies attracted major international retailers to either choose Shanghai as the gateway city to enter the China market, or locate their China headquarters offices in Shanghai to command their operations throughout the country. Indeed, the retail transformation in post‐reform Shanghai is a clear testimony of the Economic Transition Model. The main data sources for this empirical study are the 1999 Census of Commercial Activity in Shanghai and the Shanghai Statistical Yearbook. They are supplemented by data collected from reputable Web sites and through field work in Shanghai.

Suggested Citation

  • Shuguang Wang & Yongchang Zhang, 2005. "The New Retail Economy of Shanghai," Growth and Change, Wiley Blackwell, vol. 36(1), pages 41-73, February.
    • Handle: RePEc:bla:growch:v:36:y:2005:i:1:p:41-73
    DOI: 10.1111/j.1468-2257.2005.00266.x
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    Cited by:

    1. Lei Zhou & Shan Yang & Shuguang Wang & Liyang Xiong, 2017. "Ownership reform and the changing manufacturing landscape in Chinese cities: The case of Wuxi," PLOS ONE, Public Library of Science, vol. 12(3), pages 1-21, March.
    2. Bai, Junfei & Wahl, Thomas I. & McCluskey, Jill J., 2006. "Segmentation of Retail Food Store Formats in Qingdao, China," 2006 Annual meeting, July 23-26, Long Beach, CA 21233, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Cédric Durand & Neil Wrigley, 2009. "Institutional and Economic Determinants of Transnational Retailer Expansion and Performance: A Comparative Analysis of Wal-Mart and Carrefour," Environment and Planning A, , vol. 41(7), pages 1534-1555, July.
    4. Ferreira, Jennifer & Ferreira, Carlos, 2018. "Challenges and opportunities of new retail horizons in emerging markets: The case of a rising coffee culture in China," Business Horizons, Elsevier, vol. 61(5), pages 783-796.
    5. Lisa Qixun Siebers, 2017. "Hybridization practices as organizational responses to institutional demands: The development of Western retail TNCs in China," Journal of Economic Geography, Oxford University Press, vol. 17(1), pages 1-29.
    6. Chaney, Isabella & Gamble, Jos, 2008. "Retail store ownership influences on Chinese consumers," International Business Review, Elsevier, vol. 17(2), pages 170-183, April.

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