Related News
Retail sales increase at slower pace
By Wang Yanlin |
May 11, 2012, Friday
|
Online Edition
Online Edition
China's retail sales growth moderated in April, putting a damper on expectations of strengthening domestic demand in the world's second largest economy.
Retail sales expanded 14.1 percent from a year earlier to 1.56 trillion yuan (US$247 billion) last month, slower than the pace of 15.2 percent in March, the National Bureau of Statistics said today.
In the first four months, sales rose 14.7 percent to 6.49 trillion yuan.
"The slowdown in April's retail sales is rather unexpected," said Li Maoyu, an analyst at Changjiang Securities Co. "It indicates China is in need of more stimulus policies to spur domestic demand."
The Ministry of Commerce said earlier it would roll out new policies to stimulate consumption after many measures were phased out at the beginning of this year.
Lu Zhiming, an economist at Bank of Communications, said: "The fundamental way to boost demand is to increase incomes and improve the social welfare system."
In the first quarter, the disposable income of urban residents rose 14 percent on an annual basis while rural residents had a 17 percent gain. Both rates were higher than China's economic growth of 8.1 percent in the first three months.
Economists have anticipated China will rely more on domestic consumption to drive economic growth, and gradually wean itself from excessive dependence on exports and investment.
Sales of communication appliances, mobile phones in particular, continued to lead other purchases by jumping 37.6 percent from a year earlier in April. Sales of automobiles increased 8.2 percent, remaining weak due to the end of stimulus measures.
Retail sales expanded 14.1 percent from a year earlier to 1.56 trillion yuan (US$247 billion) last month, slower than the pace of 15.2 percent in March, the National Bureau of Statistics said today.
In the first four months, sales rose 14.7 percent to 6.49 trillion yuan.
"The slowdown in April's retail sales is rather unexpected," said Li Maoyu, an analyst at Changjiang Securities Co. "It indicates China is in need of more stimulus policies to spur domestic demand."
The Ministry of Commerce said earlier it would roll out new policies to stimulate consumption after many measures were phased out at the beginning of this year.
Lu Zhiming, an economist at Bank of Communications, said: "The fundamental way to boost demand is to increase incomes and improve the social welfare system."
In the first quarter, the disposable income of urban residents rose 14 percent on an annual basis while rural residents had a 17 percent gain. Both rates were higher than China's economic growth of 8.1 percent in the first three months.
Economists have anticipated China will rely more on domestic consumption to drive economic growth, and gradually wean itself from excessive dependence on exports and investment.
Sales of communication appliances, mobile phones in particular, continued to lead other purchases by jumping 37.6 percent from a year earlier in April. Sales of automobiles increased 8.2 percent, remaining weak due to the end of stimulus measures.
- 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.
