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Retail sales growth announced

Category:[world] [BIZCHINA] [Center]

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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