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Consumer Goods Market Bullish in First Two Months
China's consumer goods market registered steady growth in the first two months, boosted by large sales during the Spring Festival holiday season.
Latest figures from the National Bureau of Statistics (NBS) show the total retail sales of consumer goods stood at 637.99 billion yuan from January to February, up 10.6 percent from the same period of 2000.
Retail sales of consumer goods in urban areas rose 11.8 percent, as compared with 8.7 percent in rural areas, sources with NBS said.
During the same period, wholesale and retail sales volume hit 441.72 billion yuan or up 11.3 percent while sales volume of food and beverage rose 16.8 percent to rake in 70.7 billion yuan.
During the "golden period" before and after the Spring Festival which falls on January 23 this year, the number of domestic residents traveling both at home and abroad increased by a large margin, and there was a buying spree in Chinese shops and supermarkets.
In January alone, retail sales of consumer goods climbed 12.5 percent from the same period last year amid a sufficient market supply and brisk sales.
Super chain stores were favored by Chinese consumers in large and medium-sized cities for their rich varieties, convenient service and cheaper prices. The most famous chain stores saw their monthly sales surged 50 percent during the holiday period, NBS said.
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