Rising costs, growing impact of e-commerce pressure overseas firms

Foreign retailers in China are changing their strategy in the nation amid fierce competition, rising costs and consumers' changing demand, Ministry of Commerce spokesman Shen Danyang said on Thursday.

Both foreign retailers and their local counterparts are facing heated competition as China's retail market keeps expanding. The recent closures and mergers among foreign retailers, especially in the home appliance and building materials retail sectors, are the result of "normal" competition, Shen told a news briefing.