Convenience stores expanding

The convenience store sector grew 23 percent year-on-year in 2017 in terms of same-store sales and new openings, down from 31 percent last year, with double digit growth found in more than 61.6 percent of surveyed cities, according to an industry survey.

The China Chain Store & Franchise Association released its 2018 China Urban Convenience Store Index on May 24, which surveyed a sample of 36 cities. Among them, Xi'an saw the fastest growth of 25.5 percent. Beijing topped first-tier cities with growth of 20.7 percent.

"Convenience store operators' large scale in the country has provided investors returns," said Pei Liang, secretary general of the China Chain Store & Franchise Association. "The new momentum coming from internet giants' involvement has intensified competition and altered the layout of the sector."