China’s grocery market is the 2 nd largest in the world and will overtake the US to become the largest by 2023. Grocery retail growth forecast remains robust With GDP growth ahead of inflation, the economic growth in China is forecast to be, driven by real increase in output rather than rising prices. By nominal GDP, China has the largest economy in Asia. It is also the only major ec...

Following the first store opening in Shanghai in 2019, the retailer has opened its second store in China this month. 70,000 pre-registered Costco members before the opening day The new store is in Suzhou, a city in Jiangsu province, about 100 km (62 miles) west of Shanghai. It is famous for its beautiful gardens and traditional architecture. Before the store opening on 7 December, the ...

The retail has announced organizational changes and leadership appointments on 6th December to better drive synergies across its consumer and wholesale commerce platforms both in China and globally. Toby Xu to succeed Maggie Wu as CFO Toby Xu, Deputy Chief Financial Officer, will succeed Maggie Wu as the company’s Chief Financial Officer, effective 1 April 2022, part of the group’s leadersh...