Chinese Store Association Urges Cuts in Transactions Fees

The China Chain Store and Franchise Association (CCFA) on Sunday urged the government to pass plans to cut bank card-swipe fees charged to merchants as soon as possible in order to shore up consumption.

Secretary-General of the CCFA Pei Liang told Xinhua that a proposal for cutting card-swipe charges issued by authorities is currently seeking opinion from commercial banks.

“China’s retail sales growth has slowed from a year earlier, so the government should step up the implementation of the plan with a view of promoting consumption,” Pei said.

Data from the statistics bureau shows the country’s retail sales of consumer goods expanded by 13.2 percent year on year in August, down from a rate of 17 percent last August.

At present, fees charged to supermarkets and stores for transactions made with bank cards range from 0.5 percent to 1 percent of the transaction value.

Transactions made with bank cards are growing at an annual rate of 30 percent, and bank card transactions currently make up 35 percent of all supermarket transactions and more than 60 percent of all sales in stores, according to a survey conducted by the CCFA.

However, Chinese merchants are seeing their operational costs growing at an annual rate of more than 15 percent and their average profit margin is around 2 percent, according to the survey.

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100 Retailers in Shopping Centers Released

China Chain Store & Franchise Association (CCFA) convened the Conference on Cooperation, Development and Exchanges Between Commercial Real Estate Developers and Chain Retailers in Ningbo of China’s eastern Zhejiang Province on June 9 and released the book 100 Retailers in Shopping Centers.

CCFA has selected over 100 outstanding chain retailers from its members in various business formats, which have the ability to make expansion nationwide. The Association categorized them according to existing business formats and functions of shopping centers and offered information on different aspects of these brands, such as features of their image, traffic, expansion rate and development plan.
Some are international brands, some are famous brands in China and some are leading brands in regions, including department stores, supermarkets, home appliance stores and household stores and covering all business formats like apparel, fashion, catering, cosmetics, entertainment, education and service. These can meet the demands of commercial properties to attract investment from various stores and provide a wide variety of retailers for commercial real estate developers.
In addition to the information in it, the book has also given professional analysis and different views from experts of shopping centers on the industry’s current situation, trend, investment, financing, planning and design.
It is a great aid for commercial real estate companies to learn and attract investment of their shopping center programs.
Here are some comments by developers of shopping centers on the book:
It is quite useful! The book can give guidance on brand portfolio and combination of business formats and it is a professional reference for the management of shopping centers.
– Wanda Commercial Management
Shopping centers are drivers for creating a fashionable and prosperous city, while brands are the core competitiveness of shopping centers in the market. Best wishes to 100 Retailers in Shopping Centers.
-Sunshine100 Real Estate Group
The book has integrated resources and set up platform for information exchanges, a show of CCFA’s function and value. 100 retailers is the start and we are aiming at 1000.
-Powerlong Real Estate Holdings Limited
The book is an excellent reference to see clearly the essence and core value of shopping centers.
-Shopping Center Department of CR Vanguard
Reading the book will free you from the worries when you are developing shopping centers.
-COFCO Commercial Property Investment Co., Ltd.
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