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China's consumer market development over past decade

(Xinhua)

08:23, August 23, 2012

BEIJING, Aug. 22 (Xinhua) -- China's consumer goods market has maintained a fast growth pace over the past decade, according to a report released by the National Bureau of Statistics (NBS) Wednesday.

In the report reviewing the development of the country's consumer market since the 16th National Congress of the Communist Party of China in 2002, the NBS attributed the growth to a fast-expanding economy, rising residential incomes, consumption-boosting measures and sufficient goods supplies.

The following are key facts and figures from the report.

-- Retail sales of consumer goods expanded 2.8 times during the past 10 years, or 16.1 percent annually, to hit 18.4 trillion yuan (2.92 trillion U.S. dollars) in 2011.

-- With government policies to boost farmers' buying capacity, the growth gap between consumer goods sales in urban and rural areas narrowed to less than 1 percentage point in 2011 from 7.7 percentage points in 2002.

-- Vigorous housing purchases boosted sales of home appliances as well as building and decorating materials.


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