Retailers report surging 2011 revenues

NANJING - China's top 100 retailers' sales revenues surged 20.9 percent year on year to 2 trillion yuan ($318 billion) in 2011, a report released Sunday said.

The growth rate dipped by 0.9 percentage point compared to that registered in 2010, but it still outpaced the 17.1-percent growth of the nation's total retail sales, the China General Chamber of Commerce (CGCC) said in the report, released in the city of Kunshan in the eastern Jiangsu Province.

The leading retailing enterprises' sales accounted for 10.9 percent of the total retail sales, according to the report.

The top three retailers were Suning Appliance, GOME Electrical Appliances, and Bailian Group, with Dashang Group becoming the nation's fourth largest retailer after reporting more than 100 billion yuan of revenues last year, said the report.

The revenue threshold to enter the top 100 list last year was 3 billion yuan, up 19 percent compared to that 2010, said the report.