The Economic and Social Characteristics of Each Step during the Development of Chinese Retail Industry

The development of a country's Retail Industry depends on, to a great extent, the local politics, economy and social culture environment. In China, since the implement of the Reform and Opening policy, and along with the progress of the economic system innovation, the Retail Industry in China changed from Seller Market, which means consumers' need exceeds the market supply, to Buyer Market in Which there is abundant and sufficient goods consumers can choose. During the late 90s, Retail Industry in China experienced giant changes through the reforming of Merchandise Circulation policy. This article focuses on the changes of Merchandise Circulation policy, reviews the development of Retail Industry since the reform in China, and furthermore, unfolds the characteristic of the development progress