1. LINE

      Text:AAAPrint
      Economy

      China's retail sales accelerate in May as pro-consumption measures take effect

      1
      2015-06-11 16:53Xinhua Editor: Gu Liping

      China's retail sales accelerated in May, indicating that pro-consumption policies have begun to take effect.

      The National Bureau of Statistics (NBS) said on Thursday that retail sales in May grew 10.1 percent year on year to 2.42 trillion yuan (396 billion U.S. dollars), a shade up from the 10 percent growth recorded in April.

      In the first five months, retail sales grew 10.4 percent, unchanged from the rate seen in the first four months.

      Growth in rural areas outpaced that in cities. Sales in rural areas rose 11.6 percent in May and at the same rate in the January-May period, in contrast to the 9.9 percent and 10.2 percent growth seen in urban areas.

      Sales of food, clothes and other daily necessities in May grew 12.8 percent, 0.1 percentage points higher than April, according to NBS statistician Lin Tao.

      Chinese consumers favor online shopping. In the first five months, online sales rose 39.3 percent year on year to reach 1.34 trillion yuan.

      The upswing of consumption in May compares to prolonged cooling in investment. China's fixed asset investment rose 11.4 percent from a year earlier to 17.12 trillion yuan in the first five months of the year, slowing from the 12-percent level registered in the Jan.-April period.

      Investment in the property sector rose 5.1 percent in the first five months of the year, down from the 6-percent increase seen in the first four months, underscoring the sector's lingering weakness.

      China has been at pains to spur domestic consumption while the stuttering economy is threatened by deflationary pressures.

      Consumer inflation fell to 1.2 percent in May from 1.5 percent the previous month. The target is to maintain inflation at around 3 percent for the year.

      However, economists from the People's Bank of China, the central bank, said on Wednesday that it had shaved the 2015 inflation rate to 1.4 percent from its previous forecast of 2.2 percent.

      Falling price levels may be a bonus for consumers in the short term, but factories are likely to postpone investment and the prospect of continued price drops will mean people will hold back on spending.

      To encourage domestic spending, China cut import duties on consumer goods by an average of 50 percent, starting from June 1. The duty on cosmetics was reduced to 2 percent from 5 percent.

      The State Council, China's cabinet, said on Wednesday that private capital, foreign and domestic banks, as well as Internet companies would be allowed to set up "consumption finance" firms, which can extend small loans to the public.

      Alibaba has already launched such a service, which offers loans to buy goods on its online shopping site Taobao. The money is repaid in installments.

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 欧洲精品免费一区二区三区| 女人体1963午夜免费视频| 久久久久久久免费视频| 91精品国产亚洲爽啪在线影院| 花蝴蝶免费视频在线观看高清版| 亚洲日韩中文在线精品第一| 国产成人精品免费大全| 国产亚洲?V无码?V男人的天堂| 久久成人18免费网站| 久久精品国产亚洲麻豆| 日韩人妻无码精品久久免费一| 亚洲国产精品线在线观看| 84pao强力永久免费高清| 亚洲第一成年人网站| 青苹果乐园免费高清在线| 亚洲大成色www永久网址| 小小影视日本动漫观看免费| 青青青亚洲精品国产| 中文字幕亚洲第一| 黄色片免费在线观看| 亚洲网红精品大秀在线观看| 成年在线观看网站免费| 激情无码亚洲一区二区三区| 亚洲精品麻豆av| 精品国产免费一区二区三区香蕉| 久久精品国产亚洲AV大全| 成人免费一区二区无码视频| 日本特黄特色AAA大片免费| 亚洲乳大丰满中文字幕| 91精品全国免费观看含羞草| 亚洲色偷偷色噜噜狠狠99| 亚洲欧洲精品成人久久曰影片| 免费国产叼嘿视频大全网站| 亚洲av无码久久忘忧草| 亚洲黄黄黄网站在线观看| 99精品视频免费观看| 国产亚洲人成在线播放| 亚洲AV无码久久精品成人| 午夜毛片不卡高清免费| 99热在线日韩精品免费| 亚洲日本久久一区二区va|