China’s Social Consumer Retail Sales Up 10% In October 2016

China’s social consumer retail sales in October 2016 reached CNY3.112 trillion, representing a year-on-year nominal increase of 10% and actual increase of 8.8% if deducting price factors.

Meanwhile, from January to October 2016, China’s total social consumer retail sales reached CNY26.96 trillion, a year-on-year increase of 10.3%.

By location of operating units, China’s urban consumer retail sales were CNY2.689 trillion in October, a year-on-year increase of 10%; while rural consumer retail sales were CNY422.6 billion, a year-on-year increase of 10.3%. During the first ten months of 2016, China’s urban consumer retail sales were CNY23.183 trillion, a year-on-year increase of 10.2%; and rural consumer retail sales were CNY3.777 trillion, a year-on-year increase of 10.9%.

By consumption type, China’s food and beverage sales in October were CNY349.2 billion, a year-on-year increase of 10%; and commodity retail sales were CNY2.763 trillion, a year-on-year increase of 10.1%. From January to October 2016, China’s food and beverage sales were CNY2.911 trillion, a year-on-year increase of 10.9%; and its commodity retail sales were CNY24.05 trillion, a year-on-year increase of 10.3%.

In addition, during the first ten months of 2016, China’s Internet retail sales reached CNY3.929 trillion, a year-on-year increase of 25.7%. Of the total, Internet sales of physical goods increased by 24.9% year-on-year to CNY3.174 trillion, accounting for 11.8% of the total social consumer retail sales of China.