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China Retail Annual Report

Updated: Aug 31, 2022

Credit: FAS China Staff


Report Highlights:

Despite pandemic challenges China remains a prime destination for imported consumer food products. The COVID-19 pandemic changed the country's retail landscape as e-commerce companies gained ground over traditional brick-and-mortar retailers. Online platforms also extended the reach of imported products into second-and third-tier cities. While the market offers opportunities, global supply chain challenges, and arduous registration requirements for imported products can dampen enthusiasm among some exporters.


Executive Summary

China's gross domestic product in 2021 reached RMB 114.4 trillion (US$17.7 trillion), showing an increase of about RMB 13 trillion (US$3 trillion) compared to 2020, or 8.1 percent growth year-on-year, according to the National Bureau of Statistics (NBS). U.S. agricultural exports to China totaled about $33 billion in 2021, up from $26.4 billion in 2021, again making it the largest market for U.S. agricultural exports. In 2021, imports of consumer-oriented food products from the world reached $102 billion, an increase of 14.83 percent compared to 2020.


Imports of Consumer-Oriented Products