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China Retail Sales Expected To Exceed CNY7.5 Trillion In This Year

The Ministry of Commerce's report shows that China retails sales of consumer goods is likely to increase 13% year-over-year to more than CNY7.5 trillion in this year.

The Ministry of Commerce's report shows that China retails sales of consumer goods is likely to increase 13% year-over-year to more than CNY7.5 trillion in this year. MOC said that the balance between demand and supply is expected to improve during the current half of this year. The report also shows that the total rural retail sales of consumer goods is expected to increase 11.5% in this year and the gap between urban and rural area is expected to narrow further. MOC report also said that total sales volume of means of production would grow 12% y/y to CNY1.55 trillion in this year. Last year, the country's sales volume of production material stood at CNY1.427 trillion, an increase of 16.2% y/y. 

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