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Retail sales growth announced
China's government is aiming to see total retail sales of consumer goods grow at an average of 11 percent annually from 2006 to 2010.
The goal was announced in the 11th Five-Year project for domestic trade
development released by the Ministry of Commerce.
The target for total
sales growth of capital goods was an average 11 percent.
Growing at nine
percent annually, the added value of wholesale and retail sales of trade and
catering would account for 10 percent of the gross domestic product, according
to the project.
By 2010, the domestic trade sector would employ 71
million people and 15 to 20 domestic trade enterprises of national influence and
international competitiveness will emerge.
Accounting for 25 percent of
total sales of consumer goods, sales of chain stores will grow at 21 percent
annually.
The government has endeavored to promote the development of
domestic trade to expand the domestic market and increase employment as well as
to relieve the country's economic dependence on foreign trade.
China saw
favorable a trade balance of 75.95 billion US dollars in the first seven months,
up 52 percent from the same period last year.
Retail sales growth announced(Over)
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