Magazines Archives - 2007 January
China retail sales projected to grow by 13%
RETAIL sales in China hit RMB682.2 billion (US$87.48 million) last Nov-ember in a 14.1% jump from a year ago.
According to the National Bureau of Statistics, retail sales in the country rose 13.6% year on year in the 11 months to November 2006 to RMB6.89 trillion.
Urban retail sales swelled 14.4% during the month to RMB 455.1 billion, while those in rural areas went up by 13.5% to RMB227.1 billion.
Sales of telecom equipment rose 17.6% year on year in November, while clothing sales soared 21.5%, daily consumer goods gained 15.6%, house-hold appliances grew 22%, and meat, poultry and eggs climbed 15.4%.
Retail sales are estimated to further rise by 13% this year to RMB8.6 trillion, the local media reported, citing research by the Ministry of Commerce.
The ministry said the growth in 2007 would be supported by prudent macro-economic policies, which will drive the Chinese economys expansion.
It had earlier predicted that Chinas retail sales last year would close at RMB7.6 trillion, up 13.5% increase from a year earlier.