Related News
China's retail sails forecast to hit 16%
By Wang Yanlin |
April 23, 2010, Friday
|
Online Edition
Online Edition
CHINA'S retail sales may increase 16 percent annually this year, picking up from the increase of 15.5 percent in 2009, the Ministry of Commerce said today.
"Domestic demand will continue to grow this year after policies to stimulate people's spending and revamp the economic structure take effect," the ministry said in a report. "It will create a good environment for the growth of the consumer market this year."
China expected to rely less on exports and more on domestic demand to drive the economy after trade slumped last year amid the global financial crisis.
The retail sales in China advanced 15.5 percent from a year earlier to 12.53 trillion yuan (US$1.83 trillion) in 2009, the fastest pace since 1986.
Among the 8.7-percent gross domestic product gain last year, consumption drove it up by 4.6 percentage points and contributed 52.9 percent to the index, becoming the biggest driver of the economy for the first time.
The report said accelerating urbanization also provides scope for the expansion of retail sales.
"Domestic demand will continue to grow this year after policies to stimulate people's spending and revamp the economic structure take effect," the ministry said in a report. "It will create a good environment for the growth of the consumer market this year."
China expected to rely less on exports and more on domestic demand to drive the economy after trade slumped last year amid the global financial crisis.
The retail sales in China advanced 15.5 percent from a year earlier to 12.53 trillion yuan (US$1.83 trillion) in 2009, the fastest pace since 1986.
Among the 8.7-percent gross domestic product gain last year, consumption drove it up by 4.6 percentage points and contributed 52.9 percent to the index, becoming the biggest driver of the economy for the first time.
The report said accelerating urbanization also provides scope for the expansion of retail sales.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
