Business Intelligence on Retailing, Franchising, and Consumerism in China

China Retail Sales Up 23.3% In July 2008

According to statistics released by the National Bureau of Statistics, in July 2008, the total retail sales of consumer goods in China were CNY862.9 billion, a year-on-year increase of 23.3%.

The growth rate was 6.9 percentage points higher than the same period last year and 0.3 percentage points higher than June 2008. In addition, this growth rate is the highest since February 1996.

By area, the retail sales in urban areas were CNY590.5 billion, a year-on-year increase of 24.0%; and the retail sales of county and below county level were CNY272.4 billion, a year-on-year increase of 21.8%. By industry, wholesale and retail sales rose 23.3% to CNY730.3 billion; catering and lodging sales rose 26.5% to CNY116.8 billion; and sales of other industries rose 4.7% to CNY15.8 billion. By commodity group, clothing sales rose 26.8%; daily consumer goods sales rose 19.5%; household appliances sales rose 18.8%; and grain and edible oil sales up 18.3% year-on-year.

The NBS said that China's retail sales of consumer goods in the first seven months of 2008 was CNY5.9672 trillion, an increase of 21.7% compared with the 15.5% growth rate recorded over the same period of last year.

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