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China retail sales soar 13% year on year

Data from the National Bureau of Statistics showed China’s retail sales rose 13.1 per cent to 23.44 trillion yuan ($3.84 trillion) in 2013.

Urban and rural consumption grew 12.9 per cent to 20.25 trillion yuan and 14.6 per cent to 3.2 trillion yuan.

The catering sector has recorded a sales growth of nine per cent to 2.54 trillion yuan. And the consumer goods retail sales have reached 20.9 trillion yuan, up 13.6 per cent.

However, in December, retail sales dropped 13.6 per cent.

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