Headquartered in Seattle, Washington, Costco is the world's largest membership warehouse club, the second-largest retailer in the US, and a top 3 retailer in the world, ranking 33^rd on the 2020 Fortune Global 500 list. According to its 2019 financial report, Costco operated 788 stores worldwide and the revenue totaled approximately US$152.7 billion. Costco boasts about 100 million members worldwide and over 10,000 visits per day; each member shops 2-5 times per month. Costco will set up its South China headquarters in Longhua, including a logistics and distribution center and its first flagship store in South China, equipped with import and export settlement, investment, management, and other functions. The project investment is estimated to be 9 billion yuan and is expected to generate a minimum revenue of 15 billion yuan in five years and an export value of about US$ 700 million. The project is of great significance for Shenzhen to attract more world-renowned brands, develop new business formats and models, and build the city into an international business district and an international consumption center.