facebook
twitter
rss
account
search
search
 

Report: China's retail trade volume reached $3.44 trillion last year

July 5, 2013 at 5:07 AM   |   Comments

BEIJING, July 5 (UPI) -- China's retail trade volume reached 21 trillion yuan ($3.44 trillion) last year, the Ministry of Commerce said.

The ministry said the 2012 retail trade volume had doubled from the 10.8 trillion yuan ($1.77 trillion) volume recorded in 2008.

A ministry spokesman said China's retail sales volume of consumer products has been growing at an annual rate of 16.3 percent in the past five years, China.org.cn reported Friday.

The ministry said the country's retail sector, which accounts for 9.7 percent of China's economy, created more than 60 million jobs in 2012, up 33 percent from 2008.

Chinese policymakers have been seeking to boost domestic consumption to provide for stable economic growth and to reduce reliance on exports.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Destroyers with ballistic missile defense capability heading to Japan Destroyers with ballistic missile defense capability heading to Japan
2
Warren Buffett loses $2 billion in 2 days on investments Warren Buffett loses $2 billion in 2 days on investments
3
Little girls drop F-bombs for feminism in new FCKH8 video Little girls drop F-bombs for feminism in new FCKH8 video
4
Texas plant converts CO2 to baking soda Texas plant converts CO2 to baking soda
5
Report: Fracking in California dirty business Report: Fracking in California dirty business
Trending News
Around the Web
x
Feedback