中文       Deutsch       Français       日本語
Search      Subscribe
Home   Nation   World   Business   Opinion   Lifestyle   China Focus   ChinAfrica   Video   Multimedia   Columnists   Documents   Special Reports
Business
Chinese retail sales grow amid signs of wider economic recovery: Financial Times
  ·  2020-09-16  ·   Source: Xinhua News Agency

Customers shop at a duty-free shop in Haikou, capital of south China's Hainan Province on August 18 (XINHUA)

Chinese retail sales grow for the first time this year, and the rise in consumer spending is the latest indicator of wider economic recovery in the Asian country, a major British newspaper reported on September 15.

"China's retail sales returned to growth for the first time since the coronavirus outbreak, in the latest sign that consumer spending was catching up with the country's wider economic recovery," the Financial Times said.

"The recovery gained momentum after new cases of the virus slowed to a trickle and government infrastructure projects helped to support economic activity," the newspaper noted.

Oxford Economics, a consultancy, suggested that China's economic recovery was "on a reasonably firm footing now and should continue through Q4 (the fourth quarter) and into 2021, with solid investment growth, gradually recovering consumption momentum and resilient exports," it added.

China's retail sales of consumer goods, a major indicator of consumption growth, expanded for the first time this year, the Chinese National Bureau of Statistics said on September 15.

In August, the total retail sales of consumer goods reached 3.36 trillion yuan ($492.08 billion), rising 0.5 percent year on year.

In the first eight months, the total retail sales of consumer goods reached 23.8 trillion yuan ($3.5 trillion), down 8.6 percent year on year, narrowing by 1.3 percentage points compared with that in the first seven months.

About Us    |    Contact Us    |    Advertise with Us    |    Subscribe
Partners: China.org.cn   |   China Today   |   China Pictorial   |   People's Daily Online   |   Women of China   |   Xinhua News Agency   |   China Daily
CGTN   |   China Tibet Online   |   China Radio International   |   Global Times   |   Qiushi
Copyright Beijing Review All rights reserved 京ICP备08005356号 京公网安备110102005860
Print
Chinese Dictionary: