China's Retail Sales up 9.8 Percent in July

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Last updated at: (Beijing Time) Thursday, August 14, 2003

China's Retail Sales up 9.8 Percent in July

China's retail sales surged 9.8 percent year-on-year to 356.2 billion yuan (43 billion US dollars) in July, official figures showed.

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China's retail sales surged 9.8 percent year-on-year to 356.2 billion yuan (43 billion US dollars) in July, official figures showed.

The National Bureau of Statistics (NBS) released a monthly report Thursday showing that the July growth of retail sales was 1.5 percentage points higher than that in June.

NBS figures showed that retail sales in urban areas rose 11.6 percent year-on-year to 233.8 billion yuan, while retail sales in rural areas climbed 6.5 percent to 122.4 billion yuan in July.

The NBS said that consumption demands which were pent up due tosevere acute respiratory syndrome (SARS) were released in July, and Chinese commercial companies and service providers seized thisopportunity to promote sales.

NBS figures showed sales of automobiles surged 85.3 percent in July, telecommunications equipment jumped 57.1 percent, furniture rose 31.3 percent and building and decoration materials grew 72.3 percent.

The NBS said high temperatures this summer also helped promote the sales of certain commodities such as air conditioners. Restaurant sales grew 12.1 percent year-on-year in July, 8.7 percentage points faster than in June.

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