China's retail sales expected to exceed 40 trln yuan

Source: Xinhua| 2019-12-30 22:00:21|Editor: huaxia
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BEIJING, Dec. 30 (Xinhua) -- China's retail sales of consumer goods reported robust growth in 2019 amid steady overall consumption market development.

Sales of consumer goods are expected to exceed 41.1 trillion yuan (about 5.89 trillion U.S. dollars) in 2019, up 8 percent year on year, data from the Ministry of Commerce (MOC) showed Monday.

The revenue of the catering industry is expected to gain 9.4 percent year on year, while the proportion of service consumption is estimated to rise 0.7 percentage points year on year.

China's express delivery market is expected to cover more than 90 percent of the country's rural areas this year, and the growth rate of cross-border e-commerce retail imports is expected to exceed 30 percent, said the MOC.