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China on Monday posted weaker-than-expected growth for some key economic indicators for April, shining a spotlight on lackluster recovery of some crucial growth drivers - most notably of the consumer market.
China’s retail sales up 17.7% in April, indicating economy gaining strength China’s retail sales of consumer goods, a major indicator of consumption growth, grew 17.7 percent year-on-year in April, as consumption-driven post-pandemic recovery is gaining pace in the world’s second largest economy. In the month, retail sales of consumer goods reached 3.32 trillion yuan ($515.9 billion), up 0.32 percent month-on-month, data from the National Bureau of Statistics (NBS) showed on Monday. In the first four months of 2021, China’s retail sales of consumer goods grew 29.6 percent year-on-year...
A month-long national campaign to rev up wide-ranging consumption will commence on Saturday with a series of promotional activities planned across the country, the Ministry of Commerce (MOFCOM) announced on Sunday, as consumer spending in the country remains relatively low compared with pre-pandemic levels and crucial for a sustained post-virus recovery for the Chinese economy.
CHINA / DIPLOMACY Trade record predicted for 2021, ‘more confidence’ to solve disputes with US By GT staff reporters Published: Apr 14, 2021 12:39 AM Updated: Apr 14, 2021 12:41 AM An aerial photo taken on Nov. 3, 2020 shows the container dock of Yangshan Port in Shanghai, east China. (Xinhua/Wang Xiang) There is a high likelihood that China and the US will post a bilateral trade record this year, experts said, as their industries and economies are closely intertwined and cannot be decoupled, despite ongoing geopolitical spats and some US politicians' hue and cry intended to stem China...
CHINA / SOCIETY Domestic travel restriction to be further eased By Wan Lin and Qi Xijia Published: Mar 14, 2021 11:23 PM Tourists visit the Meihuashan (Plum Blossom Hill) scenic area in Nanjing, East China's Jiangsu Province, Feb. 19, 2021. Photo:XinhuaChina's tourism and services industries are expected to see double-digit growth year-on-year in the second quarter after China further lifts domestic travel restrictions amid a stable COVID-19 epidemic situation, experts said. Starting March 16, people can travel freely by train across the country with a green health code, which indica...