China’s consumer goods market hits $433million in May

Mazino Dickson, Abuja

The total retail sales of consumer goods in China for the month of May reached $433million, which is about 2,945.9 billion yuan, up by 10.7 percent year-on-year (nominal growth rate).

The real growth rate was 9.5 percent.

These figures were made public by the National Bureau of Statistics of China .

Of the total, the retail sales of consumer goods of units above designated size was 1,293.7 billion yuan, marking a 9.2 percent increase.

From January to May, the total retail sales of consumer goods reached 14,256.1billion yuan, up by 10.3 percent year-on-year.

Of the total, the retail sales of consumer goods of units above designated size was 6,268.9 billion yuan, increased 8.4 percent.

In terms of different areas, the retail sales of consumer goods in urban areas was 2,536.0 billion yuan, up by 10.4 percent, year-on-year; while that in rural areas was 409.9 billion yuan, up by 12.7 percent, year-on-year.

From January to May, the retail sales of consumer goods in urban areas was 12,224.1 billion yuan up by 10.0 percent, year-on-year; while that in rural areas was 2,032.0 billion yuan, up by 12.2 percent, year-on-year.

In terms of different consumption patterns, the catering services in May, gained 321.1 billion yuan, up by 11.6 percent, year-on-year.

The retail sales of goods gained 2,624.8 billion yuan, up by 10.6 percent. In the first five months, the catering services in the first five months , gained 1,529.3 billion yuan, up by 11.0 percent, year-on-year. The retail sales of goods gained 12,726.8 billion yuan, up by 10.2 percent.

The retail sales amount of goods of units above designated size in May was 1,215.8 billion yuan, up by 9.2 percent year-on-year. In the first five months, the retail sales amount of goods of units above designated size in May was 5,897.7 billion yuan, up by 8.5 percent year-on-year.

In the first five months of 2017, the national online retail sales of goods and services was 2,466.3 billion yuan, increased 32.5 percent year-on-year.

The online retail sales of physical goods was 1,879.8 billion yuan, indicating an increase by 26.5 percent.

This  accounts for 13.2 percent of the total retail sales of consumer goods; Of the online retail sales of physical goods, food, clothing and other commodities went up by 21.5 percent, 20.6 percent and 29.2 percent respectively.