China's retail sales up 8.8% in July

Xinhua
China's retail sales of consumer goods grew 8.8 percent year on year in July, official data showed on Tuesday.
Xinhua

China's retail sales of consumer goods grew 8.8 percent year on year in July, official data showed on Tuesday.

The growth slightly narrowed from the 9-percent rise seen in June, according to the National Bureau of Statistics.

In the first seven months of this year, retail sales expanded 9.3 percent year on year to reach 21 trillion yuan (US$3 trillion), compared with 9.4-percent growth in the first half.

Retail sales in rural areas increased 10.4 percent year on year in the first seven months, continuing to outpace growth in urban regions, where sales rose 9.1 percent, according to the NBS.

In breakdown, the catering sector reported a 9.8-percent year-on-year rise in revenue, while sales of other consumer products increased by 9.2 percent.

Online spending remained robust, with sales surging 29.3 percent to reach 4.8 trillion yuan in the first seven months.


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