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Minister: Retail sales grow over 13% in 2013
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China can fulfill most of the growth targets set for commerce this year and will accelerate reforms in 2014 to enhance the nation’s overall competitiveness, Commerce Minister Gao Hucheng said today.
Retail sales are expected to grow more than 13 percent this year to 23.8 trillion yuan (US$3.8 trillion). Inbound and outbound direct investments are likely to increase 5 percent and 15 percent respectively, all meeting this year’s growth targets.
But foreign trade may miss the goal by a small margin with an expected growth of 7 percent, compared with the set target of 8 percent.
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