A report released by Xinhuanet says that the volume of retail sales in Hong Kong increased by 20 percent, up to 22.6 billion Hong Kong dollars in March.
Statistics Department of Hong Kong Special Administrative Region announced on March 29 that sales volume of automobiles and auto parts took the lead this month at the increase of 29 percent on a year-on-year basis.
In the first quarter of 2008, Hong Kong's retail industry achieved a growth of 17.5 percent in total sales value, and an increase of 11.6 percent in total sales volume.
Statistics Department believes that a sound employment market, a general rise in the income and the sustained growth of tourism will continue to bolster the retail industry in Hong Kong. Meanwhile, it also points that fluctuation of the international financial market, and U.S economic slow-down will cause side effects to Hong Kong's economy and its consumers' confidence.
By People's Daily Online
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