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China’s retail sales up 9.8 percent in Q1

Updated: Apr 17,2018 10:25 AM     Xinhua

BEIJING — China’s retail sales of consumer goods grew 9.8 percent year on year to reach 9 trillion yuan (about $1.4 trillion) in the first quarter of 2018, official data showed on April 17.

The expansion increased slightly from the 9.7-percent rise seen in the first two months, according to the National Bureau of Statistics.

In March alone, retail sales went up 10.1 percent.

The data showed sales in rural areas gained 10.7 percent in January-March, outpacing the 9.7 percent in urban areas.

In breakdown, the catering sector reported a 10.3-percent year-on-year rise in revenue, while sales of other consumer products increased 9.8 percent.

Online spending continued to be robust, with sales surging 35.4 percent to reach 1.9 trillion yuan in the first three months.

The data on April 17 also showed China’s economy expansion held steady at 6.8 percent for the first quarter of 2018, unchanged from the growth rate in the previous quarter.

Final consumption expenditure contributed to 77.8 percent of the economic growth during the period, according to the data.