Xinhua | December 15, 2023
China's retail sales of consumer goods, a major indicator of the country's consumption strength, climbed 10.1 percent year on year in November, official data showed Friday.
The growth pace accelerated from a rise of 7.6 percent registered in October, according to the National Bureau of Statistics (NBS).
Since the beginning of the year, the economic performance has continued to pick up, and the demand for goods and services has continued to recover, said NBS spokesperson Liu Aihua.
Retail sales in the country's urban regions rose 10 percent year on year last month, while that in rural areas expanded 10.4 percent.
Total retail sales of consumer goods topped 42.79 trillion yuan (about 6.03 trillion U.S. dollars) in the January-November period, up 7.2 percent from one year earlier, according to the NBS.
Online retail sales jumped 11 percent year on year to 13.96 trillion yuan in the first 11 months. In particular, online retail sales of physical goods rose 8.3 percent year on year to 11.77 trillion yuan, accounting for 27.5 percent of the total retail sales of consumer goods.
On expanding domestic demand, efforts should be made to stimulate consumption with potentials and expand productive investment to create a virtuous cycle of mutual promotion between consumption and investment, according to the annual Central Economic Work Conference held from Monday to Tuesday.
With the effective implementation of policies to boost domestic demand, China's consumption will see further expansion, Liu said.