In the first 10 months, the consumer market operated smoothly. The total retail sales of consumer goods increased by 8.1% compared with the
The head of the Market Operation Department of the Ministry of Commerce said on the 15th that the current consumer market in China is running smoothly. According to the National Bureau of Statistics, the total volume of retail sales of consumer goods reached 3.8 trillion yuan in October, an increase of 7.2 percent over the same period last year, down 0.6 percentage points from the previous month. In the first 10 months, the year-on-year growth rate was 8.1%, down 0.1 percentage points from the previous three quarters. The consumer market mainly presents four characteristics:
First, the rapid growth of online retail. Affected by some consumption delay factors before the "Shuang 11" online shopping festival, the growth rate of online retail sales slowed slightly. In the first 10 months, the online retail volume of physical goods reached 6.5 trillion yuan, an increase of 19.8 percent over the same period last year. The figure was 0.7 percentage points lower than in the previous three quarters, accounting for 19.5 percent of the total, an increase of 2.0 percentage points over the same period last year.
Second, the demand for service consumption is exuberant. In October, national catering revenue totaled 436.7 billion yuan, an increase of 9.0 percent over the same period last year. According to the Ministry of Culture and Tourism, the "National Day" Golden week received a total of 782 million domestic tourists, an increase of 7.8 percent over the same period last year, and realized domestic tourism revenue of 649.71 billion yuan, an increase of 8.5 percent over the same period last year. The national box office rose 123.8% in October from a year earlier.
Third, consumer goods for communications, leisure and basic living grew steadily. In October, retail sales of communications equipment in units above the quota increased by 22.9% over the same period last year, an increase of 14.5 percentage points over the previous month, while retail sales of sports and entertainment goods increased by 11.5% compared with the same period last year. Retail sales of daily necessities, beverages and cereals, oils and foodstuffs increased by 12.0%, 9.5% and 9.0%, respectively. In the online retail of physical goods in the first 10 months, the number of food and use commodities increased by 34.8% and 16.6%, respectively.
Fourth, the increase in consumer prices has expanded. Consumer prices across the country rose 3.8 per cent in October from a year earlier, up 0.8 percentage points from the previous month. Of these, rising pork prices affected a rise of about 2.43 percentage points in CPI. The prices of edible agricultural products in 36 large and medium-sized cities monitored by the Ministry of Commerce rose 21.5% in October from a year earlier, up 9.7% in the first 10 months from a year earlier.
The official said that during the National Day holiday period this year, the whole country celebrated the 70th anniversary of the National Day, and residents' consumption of leisure, tourism, cultural and entertainment services increased significantly, while shopping activities relatively decreased, coupled with a phased downturn in car sales. Affected the zero growth rate of the month, consumption is expected to continue to maintain a steady growth trend. (reporter Feng Qiyu)