According to figures announced by the Ministry of Commerce, 70,000 supermarkets opened across rural China in 2005.
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The government hopes to establish 250,000 rural supermarkets between February 2005 (when an initiative was launched) and 2008. It has set aside funds of CNY60m (US$7.4m) for the project and hopes to attract additional social capital for the programme.
Reports in the Chinese press note that according to a survey conducted jointly by the ministry and China Agriculture University, 95% of rural people questioned approved of the new supermarkets, stating that they are more convenient. The research also found that the price of food in the supermarkets is 10-15% lower.
It is hoped that a better rural shopping environment will stimulate the 900m strong rural consumption market.
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By GlobalData
