November sales cheer for retailers | Shanghai Daily

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November sales cheer for retailers

BIG retailers in China reported strong growth in sales last month thanks to brisk demand for vehicles, the Ministry of Industry and Information Technology said today.

The ministry tracked the performance of 50 big retailers and found their sales jumped 28.4 percent from a year earlier to 17.4 billion yuan (US$2.54 billion) in November.

The pace trailed a record fast 35.71 percent expansion in October due to discounts during the National Day holiday.

Sales of automobiles soared 97.3 percent in November while food sales increased 36.3 percent.

China has extended its stimulus package to boost domestic consumption. Policy makers said the country will continue to offer subsidies for buyers of efficient cars and for people to trade in their home appliances.

China's total retail sales in November advanced 15 percent from a year earlier to 1.13 trillion yuan, less than growth of 16.2 percent in October but still indicating expansion.



 

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