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March 8, 2018

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Shanghai sees merchandise sales to rise 8%

SHANGHAI’S merchandise sales are set to grow 8 percent this year, with retail sales to rise 8 percent and e-commerce to jump 20 percent, the Shanghai Commission of Commerce said yesterday.

The city set the same 8 percent year-on-year target for merchandise sales and retail sales this year.

E-commerce is set to soar 20 percent, with online transactions exceeding 1 trillion yuan (US$ 160 billion) this year. The import and export of goods and services are set to grow 5 percent each.

In 2017, the city’s merchandise trade rose 12 percent year on year to 11.3 trillion yuan, 4.1 percentage points faster than 2016, the commis­sion said.

Shanghai ranked first in China for retail sales at 1.2 trillion yuan, up 8.1 percent yearly, with the growth pace 0.1 percentage point faster than 2016’s.

E-commerce transactions soared 21 percent annually to pass 2.4 trillion yuan last year, and online shopping rose 31 percent to 734 bil­lion yuan.

“Shanghai will continue to im­prove the business environment and emphasizes consolidating and en­hancing our status as an international trade center,” said Shang Yuying, di­rector of the commission.

Shanghai is also focusing on devel­oping a legalized, international and convenient business environment, she added.

The commission plans to promote the liberalization measures which have been trialed in the free trade zone for over a year to the whole city.

Also, city officials plan to visit headquarters of foreign-owned companies to publicize Shanghai’s investment environment and en­hance foreign investors’ confidence in the city.


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