China's retail sales down 3.9 pct in 2020

Xinhua
China's retail sales of consumer goods, a major indicator of consumption growth, fell 3.9 percent year on year in 2020, the National Bureau of Statistics said Monday.
Xinhua
Chinas retail sales down 3.9 pct in 2020
Xinhua

People shop at a supermarket in Wuhan, central China's Hubei Province on March 24, 2020.

China's retail sales of consumer goods, a major indicator of consumption growth, fell 3.9 percent year on year in 2020, the National Bureau of Statistics said Monday.

Sales of consumer goods reached 39.2 trillion yuan (about US$6.05 trillion) last year.

Retail sales in rural areas fell 3.2 percent, lower than the 4-percent decline in urban areas.

In the fourth quarter, the total retail sales of consumer goods grew by 4.6 percent year on year, 3.7 percentage points higher than that in the third quarter.

Monday's data pointed to China's ongoing consumption upgrade, as the retail sales of communication equipment, cosmetics, as well as gold, silver and jewelry by enterprises above the designated size grew by 26 percent, 21.2 percent and 17.3 percent, respectively, in the fourth quarter.

Online sales continued to report robust expansion, with a year-on-year increase of 10.9 percent to reach 11.76 trillion yuan in 2020, the NBS data showed.


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