China's Retail Sales Up 8.8% In July

China's Retail Sales Up 8.8% In July

China's retail sales of consumer goods grew 8.8% year on year in July, according to official data. The growth slightly narrowed from the 9% rise seen in June, according to the National Bureau of Statistics (NBS). In the first seven months of this year, retail sales expanded 9.3% year on year to reach 21 trillion yuan (about US$ 3 trillion), compared with 9.4% growth in the first half.

Retail sales in rural areas increased 10.4% year on year in the first seven months, continuing to outpace growth in urban regions, where sales rose 9.1%, according to the NBS. In breakdown, the catering sector reported a 9.8% year-on-year rise in revenue, while sales of other consumer products increased by 9.2%. Online spending remained robust, with sales surging 29.3% to reach 4.8 trillion yuan in the first seven months.