Chinese retail sales rise more than 10 per cent

Total Chinese retail sales last month reached RMB2.961 trillion (US$443.7 billion), a year-on-year rise of 10.4 per cent, reports the National Bureau of Statistics.

While this was 0.2 points faster than the same month last year, it was 0.6 point slower than June. Consumer goods sales in urban areas reached RMB2.547 trillion, up by 10.2 per cent, while rural sales rose 117 per cent to RMB413.6 billion.

The catering category was the fastest growing during the month, rising 11.1 per cent to RMB320.4 billion.

Sports and recreational items along with household appliances and AV equipment, increased by 26.6 and 13.1 per cent respectively.

In the first seven months, online retail sales reached RMB3.661 trillion, up 33.7 per cent year-on-year and 0.3 points faster than the first six months. Physical goods netted RMB2.782 trillion, an increase of 28.9 per cent and accounting for 13.8 per cent of total sales. This was an increase of 2.2 points compared with the same period last year.

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