China's top 100 retailers see big sales rise in Jan-Feb

16:49, March 31, 2010      

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China's top 100 retailers reported sales increases of 24 percent on average in the first two months this year, indicating the retail market had rebounded to pre-crisis levels, according to figures released Wednesday by the Ministry of Industry and Information Technology (MIIT).

The statistics showed the 100 retailers' sales growth rate increased by 15.3 percentage points year on year. In February alone, the retailers saw sales soar by 79.4 percent from a year earlier to 38.2 billion yuan (5.6 billion U.S. dollars).

Among the major commodities, jewelry, garment and household appliances recorded around 30 percent sales growth each in the Jan-Feb period due to the Spring Festival shopping spree.

Food sales skyrocketed by 91.1 percent last month due to the long holiday, last year's low comparison base and retail price rises.

Sales of cosmetics and daily necessities remained relatively stable in the first two months to stand at 2.8 billion yuan and 6.2 billion yuan, up by 17 percent and 20.2 percent respectively.

Source: Xinhua
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