According to Beijing Municipal Commission of Commerce, there were 1,480 new foreign-funded specialty stores approved to open this year in Beijing, 459 foreign-funded retail stores and 440 brands that came into the city from various places in China, meaning that Beijing is becoming a fashion and commerce capital.

 

Purchase restriction of automobile and housing accelerated consumer spending restructuring. Introduction of domestic and foreign brands into Beijing will better satisfy market demand, said a representative from the commission. According to previous data, there were 3,245 foreign-funded retail stores in Beijing in 2010 and the number will exceed 3,700 this year. At the same time, leading products from all over China are making their expansion in the city so that people in Beijing can enjoy specialties from different places.

 

Beijing's retail sales of consumer goods amounted to 622.29 billion yuan in the past 11 months with a same-period growth of 10.9% and the number for November reached 61.4 billion yuan with an increase of 8.2%, 0.4 percentage point lower than that of last month. Consumer spending growth was not just boosted by automobile but by multiple industries as well.