| Chinanews, Beijing, May 24 - According to a survey by McKinsey & Company, averagely a Chinese spends 9.8 hours every week doing shopping, while the figure in the US is only 3.6 hours. 41% of Chinese respondents even say that shopping is their favorite pastime.
The total sales value of retail1 market in China in 2006 was $800 billion, only after Japan and the US and more than the total sales value of the retail markets in all the other Asian countries (not including Japan). McKinsey estimates that China will contribute about 30% of global retail market growth.
The number of big marts in China will witness a two-digit growth, which will pose a threat to supermarkets. Department stores and shopping malls will keep a 10%-plus growth, too.
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