Was anyone doubting that China would pull the world out of the Recession? In Beijing, retail sales in consumer goods reached 531 billion yuan (USD 77.8 billion) in 2009, up 15.7 percent from the year before, according to China Daily. Judging by this People’s Daily piece, Beijing’s performance was merely average, compared with the rest of the country. Interestingly, Forbes ranked Beijing 15th on its list of global shopping capitals in 2009 – Shanghai did not make the list. This ranking reflects the brisk growth in the number of global retailers present in the city. The number of H&Ms and Zaras in the capital is set to grow further in 2010, with others such as Gap expected.
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