China's retail sales up 18.2% in H1

10:10, July 15, 2010      

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China's retail sales grew 18.2 percent to 7.27 trillion yuan (1.06 trillion U.S. dollars) in the first half of the year from a year earlier, the National Bureau of Statistics (NBS) announced Thursday.

Urban consumption hit 6.27 trillion yuan in the first six months, up 18.6 percent from a year earlier, while rural residents spent 1 trillion yuan, up 15.6 percent.

China's auto sales in the first half of the year rose 37.1 percent from a year earlier, furniture sales were up 38.5 percent and home appliances sales climbed 28.8 percent.

The government rolled out a series of incentives early 2009 to bolster consumption to counter fallout from the global economic downturn, including subsidies for home appliances in rural areas and tax breaks for auto purchases, among others.

Source: Xinhua


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