China's Retail Sales Up 11 Percent in MayRetail sales in the Chinese consumption market reached 292.96 billion yuan in May, up 11.1 percent over the same period of last year.Sales in urban areas totaled 185.1 billion yuan. The 12.7 percent increase over the previous corresponding period was four points higher than that of rural areas. In May, the wholesales and catering industries jumped 11.8 percent and 16.6 percent respectively. Commodity sales such as telecommunications equipment, construction materials, electrical appliances, and food and beverages topped the list. Experts pointed out that the May Day holiday period directly increased retail sales, forming the second consumption peak after the Chinese Spring Festival. Meanwhile, the temperature in China during May was abnormally high, giving rise to early summer consumption. |
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