Retail chains made to raise management abilities

Faced with slowing economic growth, retail chains in China are being forced to further improve their management and marketing capabilities to go through the sluggish period, said a report released on Thursday by Deloitte Touche Tohmatsu Ltd.

The report - China Power of Retailing 2013 - reviewed the country's retail industry over the last year, and is based on a survey conducted by Deloitte and the China Chain Store & Franchise Association of 192 retail companies and 108 retail stores in China.

The total sales of listed retail companies rose 12.2 percent year-on-year in 2012, a much slower growth rate than in recent years. Their net profit, which decreased 7.7 percent from 2011, posted the first drop in recent years, said the report.