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April 10, 2018

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Retailers see faster rise in March sales

CHINESE retailers saw faster sales increase last month, according to an official survey.

Combined sales of 5,000 retail companies across the country grew 5 percent year on year in March, up from 4.2 percent in the first two months and 4.5 percent in the same month a year ago, the Ministry of Commerce said in a report.

Their sales rose 4.5 percent in the first quarter, also up from 4.1 percent a year earlier.

The data suggested the country’s consumer market remained robust as policymakers have been working to push for a consumption-led economy and to reduce reliance on investment and exports.

“The consumer market has steadily picked up its pace,” the ministry said, citing stronger online shopping and more spending in services such as film and tourism.

E-commerce maintained rapid expansion as online platforms tracked by the ministry reported an average 20-percent rise in turnover from January to March. Brick-and-mortar retailers also recovered, with sales of convenience stores and franchise houses up 7.2 percent and 5.9 percent respectively.

Box office sales exceeded 20 billion yuan (US$3.17 billion) in the first three months, up nearly 40 percent year on year, partly driven by the week-long Spring Festival holiday, which saw a record-setting 5.72 billion yuan in tickets. The ministry has predicted a 10-percent growth in consumer goods sales for the first quarter.




 

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