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Magazines Archives - 2007 April
China sees fastest sales rise in 2 years
Story 12
JANUARY and February retail sales in China rose the fastest by 14.7% in two years to total RMB1.45 trillion (US$187.79 nillion), according to the National Bureau of Statistics data. Increased spending on food, cars, electronics and clothes helped.
Urban sales went up 15.3% for the period to RMB980 billion, said the bureau, while sales in rural areas grew 13.4% to RMB470 billion.
Sales of clothes in the two months reviewed grew 27.9%, while those of daily consumer goods were up 23% and 21.6% for household appliances. Grain and edible-oil sales also gained 25.4% year on year, with sales of meat, poultry and eggs soaring 32.5%.The figure represents the strongest growth since May 2004 when the government raised minimum wages and increased welfare spending to boost consumption and reduce the economys dependence on exports and investment for growth.
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