Retail sales set to surge

Encouraged by the central government's stimulus measures tailored for domestic consumption, China's retail sales this year may surge by 16 percent from a year earlier, compared with that of 15 percent during the first 10 months, the Ministry of Commerce (MOFCOM) said yesterday.

The growth will be sustained in the year ahead as relevant new preferential policies are expected to come into effect, the ministry said.

"Benefiting from the series of measures initiated by the Chinese government, retail sales have registered robust growth this year. It is predicted that the figure will increase by 15.6 percent to 12 trillion yuan in 2009," said Wang Bingnan, director general of the Department of Market Operation Regulation under MOFCOM.