China shoppers swamped Marks & Spencer as the UK retailer opened its first Chinese retail store in Shanghai, the company’s largest in Asia. The retailer announced in July it would close its three stores in Taiwan in a joint venture with President Chain Store, less than 18 months after it entered the market.

Retail sales in China rose 23.2% in August and have expanded by 17% or more in the past year, according to government data. July’s 23.3% growth was the fastest pace in at least nine years.

Retail sales in China were up 21% from the same period last year to reach 420 billion yuan (US$61 billion) during the Golden Week holiday which ended yesterday, reported the Ministry of Commerce. Retail revenues were boosted by strong demand for food products and surging tourist traffic.

More than 18.3 million people visited 119 major tourist destinations nationwide between Sept 29 and Oct 5, up 13.2% year-on-year, according to National Tourism Administration statistics. Many Olympic venue cities, such as Beijing, Tianjin, Shanghai and Qingdao, experienced peak tourist arrivals during the week-long national day holiday.