China retail sales decline eases in May
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The decline in China retail sales sparked by the advent of Covid-19 slowed substantially in May as the country continued to reopen for business.
The consumer goods retail sector in China saw a year-on-year decline of 2.8 percent last month, according to the National Bureau of Statistics.
That decline was a significant improvement on April, when China retail sales fell by 7.5 percent.
Retail takings hit US$451 billion during May.
However, the mainland’s catering industry remained heavily affected by the pandemic, with sales down by 18.9 percent year on year last month. That was still better than the 31.1-per-cent decline of April.
Statistics show that online shopping is continuing to boom, with a 4.5 percent increase during the first five months of this year over last year’s results.
Questions & Answers
Q.What was the total value of retail sales in China during May?
What was the total value of retail sales in China during May?
Retail takings in China reached US$451 billion during May. This figure reflects the overall consumer goods retail sector's performance for that month.
Q.How did the catering industry perform in May compared to the previous month?
How did the catering industry perform in May compared to the previous month?
The catering industry experienced an 18.9 percent year-on-year sales decline in May. This was an improvement from April, when sales fell by 31.1 percent.
Q.Has online shopping continued to grow in China recently?
Has online shopping continued to grow in China recently?
Yes, online shopping continued to boom, showing a 4.5 percent increase during the first five months of this year. This growth is compared to the same period in the previous year.
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