Economic Buzz: China retail sales rise 3.4% on year in August

The data by National Bureau of Statistics of China showed that in August, the total retail sales of consumer goods in China reached 3,966.8 billion yuan, up by 3.4 percent year on year, or up by 0.17 percent month on month.

The retail sales of consumer goods in urban areas reached 3,438.7 billion yuan, up by 3.2 percent year on year, and that in rural areas stood at 528.1 billion yuan, up by 4.6 percent.

Grouped by consumption patterns, the retail sales of goods were 3,517.2 billion yuan, up by 3.6 percent; the income of catering was 449.6 billion yuan, up by 2.1 percent. Sales of basic living goods and certain upgraded goods enjoyed sound growth.

In the first eight months, the total retail sales of consumer goods reached 32,390.6 billion yuan, up by 4.6 percent year on year. The online retail sales reached 9,982.8 billion yuan, up by 9.6 percent year on year.

Specifically, the online retail sales of physical goods were 8,096.4 billion yuan, up by 6.4 percent, accounting for 25.0 percent of the total retail sales of consumer goods. In the first eight months, the retail sales of services went up by 5.1 percent year on year.

Specifically, the retail sales of culture, sports and leisure services, tourism consultation and rental services, and transportation services grew fast.

Powered by Commodity Insights