Retail News
- 2007 retail sales seen up 14.5%
Date: 10-Apr-2007 Sources: (Shenzhen Daily)
CHINA'S annual retail sales growth will probably accelerate to a 14.5 percent pace this year from 13.7 percent in 2006 due to rising incomes, according to a report cited by Xinhua.
Government moves to lower education costs in rural areas and roll out insurance schemes for pensions and medical needs would allow retail sales to hit 8.7 trillion yuan (US$1.13 trillion), Xinhua said Sunday, citing a report by the Chinese General Chamber of Commerce. Retail sales growth gathered pace last year from 12.9 percent in 2005 as incomes in both urban and rural areas grew.
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