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Current Status of the Development of Business and Logistics in Nanchang

Current Status of the Development of Business and Logistics in Nanchang

Nanchang is a major business hub in Central China. Thanks to the correct leadership of the Municipal Party Committee and the Municipal Government, and especially the concern and support from our friends who put both their investments and their hearts in Nanchang, Nanchang’s business service sector has experienced a remarkable progress and rapid growth over the past few years. The total retail sales volume of consumer goods of Nanchang has kept a double-digit growth for six straight years, and shown an accelerating trend recently--the volume of retail sales is expected to exceed RMB 60 billion this year, an increase of 16% from RMB 52.889 billion in 2008. In the urban areas, more than 20 shopping malls have mushroomed, each covering a business area larger than 10000 M2 and reaching a sales volume of more than RMB 100 million. In addition to large local companies and brands such as the Department Store, the Hongcheng Building, the Hongkelong Mart and Hengdeli, other nationally- or internationally-renowned businesses and chain restaurants such as Wal-Mart, Metro, Parkson, Trust-Mart, Shenzhen Tianhong, Beijing Hualian, GOME, Suning, McDonald's, KFC, Pizza Hut and Haagen-Dazs also hold a market share here. In the city, Shengli Road, Zhongshan Road, Ruzi Road and other 6 main roads have been classified as municipal commercial streets, and the commercial pedestrian street of Shengli Road has even been awarded the title of “the Commercial Street with the Greatest Potential in Value Increase in China” by the China Commercial Walking Street Committee. In the outskirts, there are nearly 300 markets of all kinds, and the number of the commodity markets with trade volume over RMB 100 million has amounted to 35. Last year, the Hongcheng Market, one of the top 6 wholesale markets in China, reached RMB 18.5 billion in its trade volume, and the Nanchang (Shenzhen) Wholesale Market for Agricultural Products also reached RMB 6.9 billion, ranking the fifth among markets of the same type. The logistics bases in the south and the west of the city and the Changbei Logistics Base and the bonded logistics center in the north of the city are under construction, and the export processing zone and the bonded warehouse in the east of the city have been completed and opened. The rail-sea intermodal transportation from Nanchang to Shenzhen, Xiamen, Hong Kong and Shanghai is now in operation. The Nanchang-Xiangtang railway marshalling yard has become the second largest freight marshalling yard in China. All of this shows that the modern logistics system of Nanchang is taking its shape.
Nanchang, a land of attractive resources and magical power and a birthplace of creative minds and gifted talents, has been a place thronged with a large number of merchants since ancient times. Nowadays, with the arrival of the prosperous and competitive economic globalization, the city is facing both opportunities and challenges. As the only city adjacent to the Yangtze River Delta, the Pearl River Delta and the Economic Area of Southeastern Fujian, and also one of the provincial capitals along the Beijing - Kowloon Line, Nanchang takes the advantage of its convenient transportation by road, railway, watercourse and air. In addition, Nanchang has abundant cheap resources for production and a 6-hour economic circle involving a 450-million population and a 12-trillion-yuan consumer market. By 2010, the total urban area of Nanchang will expand to 300 km2, its urban population will reach 3 million and its retail sales volume will exceed RMB 60 billion. At that time, with its large market potential and excellent living and investment environment, Nanchang will become strategically important for business competitors.
Nanchang is a city full of business opportunities. So far, all the investors investing in the tertiary-industry in Nanchang have gained satisfactory returns. The debut of KFC in Nanchang in May 2000 created a great sensation in the world, breaking the world record of daily sales of a single store of its kind; the launching of the first Wal-Mart in Nanchang in August 2003 was also an unprecedented event, making two world records in a single store’s daily customer traffic and daily sales volume. Today, KFC has 10 stores in Nanchang, while Wal-Mart plans to set up its fifth outlet here.
As a historical and cultural city named by the State Department of China in 1986, Nanchang has rich tourist resources, including over 600 cultural relics, 78 human landscapes, 26 natural sceneries and more than 50 cultural relics under state-, provincial- or municipal-level protection. Tourists can visit ancient relics, such as Tengwangge, one of the three famous pavilions in the south of the Yangtze River, and the Badashanren Hall named in honor of a well-know calligrapher in the late Ming Dynasty and early Qing Dynasty; they can visit sites of revolutionary tradition such as the Site-Memorial of the August 1 Nanchang Uprising; they can also visit natural sceneries such as Qinshan Lake, Xiang Lake and Baihuazhou Island, and some special sceneries such as Houtian Desert, a desert in an oasis, and Tianxiang Park, a home for migratory birds. In 2008, Nanchang received 10.60 million domestic and foreign tourists, with its earnings from tourism totaling RMB 7.5 billion.
The Municipal Party Committee and the Municipal  Government of Nanchang have consistently attached great importance to the development of the modern service sector, stressing to make Nanchang a modern commerce trading center, logistics center and financial center. To meet this end, the Municipal Party Committee and the Municipal Government have formulated the 2007-2020 Nanchang Business Development Plan and the 2007-2020 Nanchang Logistical Development Plan, drawing up a beautiful blueprint for a seven-level business system and a three-level logistics system. The seven-level business system is composed of municipal business centers, regional business centers, community business centers, satellite-city business centers, countryside stores established according to the Market Project of “Thousands of Villages and Townships”, commodity markets and logistical areas; while the three-level logistics system includes 3 logistics bases, 8 logistics centers and 15 distribution centers. In addition, the Municipal Party Committee and the Municipal Government have also issued the Decision Regarding the Acceleration of the Development of the Modern Service Sector and the Implementation Guidelines to encourage the faster growth of the modern service sector related to the trade and tourism and thus to create a more relaxed and favorable investment environment.
According to the development strategies by the Municipal Party Committee and the Municipal Government of Nanchang, the guidelines for the development of the business service sector is to “build large shopping malls in the downtown, commercial streets in the urban area, large markets in the outskirts and large logistical centers outside the city”, and the strategic objective is to make Nanchang a tourist and shopping center as well as a logistics center in Central China. As for the development of the tourism, Nanchang should give high priority to its ecotourism, MICE tourism, cultural tourism and sports tourism, trying to create an image of “A fantastic Nanchang”.