Chinese retail sales surging ahead
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Chinese retail sales of consumer goods are rising, reaching a total worth of 2661.1 billion yuan (US$403.9 billion) last month, up by 10 per cent year-on-year nominal growth rate (9.7 per cent real growth rate).
In the first five months of this year, retail sales reached 12,928.1 billion yuan, an increase of 10.2 per cent.
In urban areas, sales in urban areas were up 9.9 per cent to 2,297.3 billion yuan, while in rural areas sales were up 10.7 per cent to 363.8 billion yuan. In the first five months, urban sales were up 10.1 per cent to 11,116.7 billion yuan, and in rural areas were up 10.9 per cent to 1811.4 billion yuan.
Catering services last month were worth 287.8 billion yuan, up by 10.9 per cent, while retail goods realised 4,725.9 billion yuan, up by 10.1 per cent.
For the five months, the national online retail sales of goods and services was 1,808.9 billion yuan, growth of 27.7 per cent. Of this, physical goods earned 1,463.3 billion yuan, up 25.9 per cent and accounting for 11.3 per cent of the total retail sales.
Questions & Answers
Q.What was the total value of Chinese retail sales for consumer goods in the most recent month reported?
What was the total value of Chinese retail sales for consumer goods in the most recent month reported?
Chinese retail sales of consumer goods reached 2,661.1 billion yuan (US$403.9 billion) last month. This represents a 10 per cent year-on-year nominal growth rate, or 9.7 per cent real growth.
Q.How do the growth rates of urban and rural retail sales compare for the first five months of the year?
How do the growth rates of urban and rural retail sales compare for the first five months of the year?
In the first five months, urban sales increased by 10.1 per cent, reaching 11,116.7 billion yuan. Rural sales showed a slightly higher growth rate of 10.9 per cent, totalling 1,811.4 billion yuan.
Q.What proportion of total retail sales did online physical goods account for in the first five months of the year?
What proportion of total retail sales did online physical goods account for in the first five months of the year?
Online retail sales of physical goods were 1,463.3 billion yuan for the first five months, growing by 25.9 per cent. This category accounted for 11.3 per cent of the total retail sales during that period.
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