Consumer Market Enjoys Fast Growth

China's consumer market saw speedier growth in the first two months of this year with sales volume of consumer goods hitting 576.78 billion yuan (about 70 billion U.S. dollars), surging 10.9 percent year-on-year.

The National Bureau of Statistics said Friday that the growth rate of sales volume between January and February was three percentage points higher than that of the same period last year.

Sales volume in January stood at 296.29 billion yuan, climbing 11.3 percent on an annual basis, and that of February amounted to 280.49 billion, up 10.5 percent.

The catering industry has maintained its strong growth momentum in the past two months, with business volume jumping 19.5 percent to 60.51 billion yuan.

During that period, sales of consumer goods in urban areas enjoyed a faster growth than in regions at or below county level, the bureau reported.

Analysts from the bureau attributed the booming consumer market to the spending spree brought about by festivals and holidays in the first two months, mainly the New Year's Day and the Spring Festival, as well as the state's policy of stimulating domestic demand.

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