2018年CRI China's retail sales score double-digit growth for 14 years in a row

 

The latest figures from the Ministry¹ of Commerce have shown that China's retail² sale of consumer goods has now experienced double-digit growth for 14 consecutive³ years.

China's retail sale of consumer goods in 2017 reached 36.6 trillion yuan, or 5.8 trillion U.S. dollars, which represents a 10.2% year- on-year increase.

"The average annual growth rate of the retail sale of consumer goods in China from 2013 to 2017 was 11.3%, which is 3.2 percentage points larger than the country's GDP growth rate during the same period. Online retail sales of physical goods were valued at 5.5 trillion yuan. This is an increase of 28%, and accounts for 15% of total retail sales of consumer goods, and is 2.4% higher than the previous year," said Gao Feng, spokesperson from China's Ministry of Commerce.

Consumption contributed 58.8% of China's economic expansion in 2017.

The value of China's domestic trade in 2017 surpassed 10 trillion yuan for the first time, and accounted for 13% of the total GDP volume. 

Growth was focused in tertiary industries such as wholesale⁴, retail, accommodation, and catering⁵.

The booming domestic trade significantly boosted the country's employment.

"By the end of 2017, China's domestic trade created more than 190 million jobs, rising by 10% year-on-year, accounting⁶ for nearly a quarter of the country's total employment, as well as more than half of the number of jobs in tertiary industries. Domestic trade has become an important area to attract people seeking job opportunities," said Gao Feng.

The tax paid by the country's wholesale and retail sectors⁷ in 2017 also increased by 20%, and made up nearly 25% of the total growth in tax payments.

Experts predicted that the country's domestic trade will keep growing steadily⁸ this year.

"I think China's consumption for this year may keep growing by 10% in a relatively⁹ stable way, as the country is already enjoying a much bigger market size. Although it may be difficult for China to keep scoring a double-digit growth, the country's consumer market will be of greater significance to the whole world," said Dong Chao, an expert from the Chinese Academy of International Trade and Economic Cooperation under China's Ministry of Commerce.

1 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

2 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

3 consecutive   

adj.连续的，联贯的，始终一贯的

参考例句：

• It has rained for four consecutive days.已连续下了四天雨。
• The policy of our Party is consecutive.我党的政策始终如一。

4 wholesale   

n.批发；adv.以批发方式；vt.批发，成批出售

参考例句：

• The retail dealer buys at wholesale and sells at retail.零售商批发购进货物，以零售价卖出。
• Such shoes usually wholesale for much less.这种鞋批发出售通常要便宜得多。

5 catering   

n. 给养

参考例句：

• Most of our work now involves catering for weddings. 我们现在的工作多半是承办婚宴。
• Who did the catering for your son's wedding? 你儿子的婚宴是由谁承办的？

6 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

7 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

8 steadily   

adv.稳定地；不变地；持续地

参考例句：

• The scope of man's use of natural resources will steadily grow.人类利用自然资源的广度将日益扩大。
• Our educational reform was steadily led onto the correct path.我们的教学改革慢慢上轨道了。

9 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。