Chinese retail trade in 2021 will reach trln USD 6.8
(MENAFN) On Sunday, September 26, an official said China’s consumer product retailing is expected to reach 44 trillion yuan (about $ 6.8 billion) this year.
Wang Bin, an official with the Ministry of Commerce, noted at a press conference that the expected data would show an increase of about 12.5% from 2020 and 8% from the previous year.
Given the month-to-month expansion during the July-December period of last year, the trend for year-over-year consumption expansion will be “weaker and weaker” over the course of the year. of 2021, Wang noted, adding that China’s consumption will hold steady. its stable rebound in the fourth quarter.
According to Wang, with the approach of the National Day, during which high consumption is expected, China is stepping up market monitoring and releasing stocks to ensure the proper supply of daily needs.
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