7 years, 11 months ago

China's retail sales up 10% in Q1

BEIJING — China's retail sales rose 10 percent year-on-year in the first quarter of the year, 0.4 percentage points less than the whole of last year, official data showed Monday. In March, total sales of consumer goods rose 10.9 percent year-on-year, 1.4 percentage points faster than the first two months, which rose 9.5 percent year-on-year, the first time for growth to fall below 10 percent in 11 years. The data showed strong consumption potential in rural areas, with retail sales expanding 11.9 percent during the period, outpacing urban areas, where retail sales climbed 9.7 percent year-on-year. Online sales continued strong growth, surging 32.1 percent in the first two months to 1,404.5 billion yuan.

China Daily

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