14.03.2018
The volume of retail trade in consumer goods in China increased in January-February by 9.7 percent year-on-year and reached 6.1 trillion yuan (about 965 billion US dollars). Such data is provided by the State Statistical Office of the People’s Republic of China.
The growth rate slowed by 0.5 percentage points compared to the growth recorded for the whole of 2017.
The volume of retail sales in rural areas for the first two months of the year increased by 10.7 percent, and in cities-by 9.6 percent.
During the period under review, the incomes of catering enterprises increased by 10.1 percent in annual terms, and sales of other consumer goods increased by 9.7 percent.
Within the framework of e-commerce, sales increased by 37.3 percent and reached 1.2 trillion yuan.
Recall that the contribution of consumption to the growth of the Chinese economy in 2017 amounted to 58.8 percent.
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