Retail Sales of Consumer Goods Recovering in Beijing
Jul 18, 2003
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Retail sales of consumer goods in Beijing hit 89.46 billion yuan (U.S. $10.78 billion) in the first 6 months of the year, up 13.7 percent from the same period in the previous year.
According to the Beijing Municipal Commission of Commerce, the consumer goods market in the city has been picking up since late May, and retail sales in June alone totaled 14.41 billion yuan ($1.74 billion), up 6.3 percent year-on-year, or 15.9 percentage points from May.
The recent negative impact of the outbreak of the severe acute respiratory syndrome (SARS) on the Beijing market is expected to only be felt over the short-term, and thus the general upward trend of the upgrading of the consumption structure will persist.
Sales of popular household and travel goods have continued to rise steadily, in particular, the consumption of private automobiles, which has been surging.
In the first 5 months of the year, 119,000 automobiles were sold in Beijing, up 7.3 percent, with retail sales totaling 10.45 billion yuan ($1.26 billion).
Liang Wei, director of the Beijing Municipal Commission of Commerce, said he is confident that this year's goal of raising consumer good sales by 10 percent will be achieved. (Asia Pulse)
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