USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Macro

China's retail sales up 10% in October

Xinhua | Updated: 2017-11-14 10:53

BEIJING - China's retail sales of consumer goods grew 10 percent year-on-year in October, down from 10.3 percent registered in September, official data showed Tuesday.

Total sales in the first 10 months rose 10.3 percent to 29.74 trillion yuan ($4.48 trillion), the National Bureau of Statistics said on its website.

The pace was slightly slower than an increase of 10.4 percent for the first three quarters.

The steady growth was partly due to booming online sales, which surged 34 percent year-on-year in the first 10 months.

In the same period, retail sales in rural areas rose 12 percent, outpacing the 10-percent expansion for urban areas.

Booming retail sales are behind China's stabilizing economy, which grew 6.9 percent in the first three quarters.

China is trying to shift its economy toward a growth model driven more by consumer spending, innovation and services while weaning it off overreliance on exports and investment.

Most Viewed in 24 Hours
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US