Business Intelligence on Retailing, Franchising, and Consumerism in China

Shanxi Retail Sales Up 23.4% In First Half Year

According to statistics released by Department of Commerce of Shanxi Province, in the first half of 2008, the total value of retail sales of consumer goods in Shanxi was CNY113 billion, a year-on-year increase of 23.4%.

The dining and lodging industries attained a rapid development over the six months with retail sales of CNY13.8 billion and a year-on-year increase of 29.2%. The sales for wholesale and retail were CNY12.8 billion and CNY83.2 billion, which increased by 22.5% and 23.1%, respectively.

The statistics showed that over the first half of 2008, the prices of consumer goods increased by 9.2% and the retail prices increased by 9.0 in Shanxi Province. In urban areas, the per capita DPI was CNY6,424, an increase of 12.6%; the per capita consumption expenditure was CNY4,307, accounting for 66.9% of the DPI. In rural areas, the per capita income was CNY1.918, an increase of 24.6%.

A representative from the Department of Commerce of Shanxi analyzed that as the rise of people's income, the consumption power of the province is improved. In the second half of 2008, the supply and demand between daily necessities and the means of production will be balanced and the total retail sales of consumer goods in Shanxi is expected to reach CNY230 billion in the year 2008.

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