As the US-China trade war sees a temporary reprieve, a survey reveals that American retail giant Walmart achieved sales revenue of 158.845 billion RMB (93.815 billion MYR) in China last year, retaining its position as the top company in China’s Top 100 chain enterprises.
According to reports from “The Beijing News,” “Daily Economic News,” and “Beijing Business Today,” the China Chain Store and Franchise Association released the “2024 China Chain Top 100” list on the 18th, based on basic industry data surveyed in 2024. The list shows that Walmart (China) achieved a sales revenue of 158.845 billion RMB in 2024, continuing to hold the top spot among China’s Top 100 chain enterprises.
Among the top ten, “Hunan Busy Bee” entered the rankings as a new company. Furthermore, the Top 100 list featured five other new entries: Wancheng Biotechnology, Bestore, Xiya Andmei, Juewei Foods, and Guizhou Heli.
There are 10 companies that achieved double-digit growth in both sales revenue and store numbers, including Freshippo, Hunan Busy Bee, Wancheng Biotechnology, 7-Eleven, Costco, Shizushizu, Biute, Coolmotion, Xinguo Technology, and Old Neighbors. The number of companies with sales revenue exceeding 30 billion RMB (17.718 billion MYR) increased from 21 in 2023 to 24.
In 2024, the total sales of the Top 100 chain enterprises reached 2.13 trillion RMB (1.26 trillion MYR), with a total of 257,200 stores, representing increases of 4.9% and 13.5%, respectively, compared to last year’s Top 100 chain enterprises.
Among the Top 100 chain enterprises, there were 46 comprehensive retail companies, 23 supermarket companies, 13 convenience store companies, and 18 specialty store companies. The China Chain Store and Franchise Association analyzed that comprehensive retail companies face the greatest growth pressure.