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China's retail sales up 14.8% in Q1

Apr. 13, 2012 (China Knowledge) - China's retail sales were RMB 4.93 trillion in the first three months of this year, up 14.8% year on year in nominal terms, said the National Bureau of Statistics.

Total retail sales in urban areas rose 14.9% year on year to RMB 4.27 trillion, while retail sales in rural areas rose 14.6% year on year to RMB 663.1 billion.

Retail sales in the catering industry grew 13.3% year on year to RMB 542.7 billion in the three-month period, while retail sales of consumer goods rose 15.0% year on year to RMB 4.39 trillion.

The retail sales of automobiles continued to top the country's retail sales list, reaching RMB 531.3 billion in the first three months, up 11.0% year on year, while retail sales of oil and related products came in second, hitting RMB 378.2 billion, with a 21.6% growth.

In March, the country's retail sales grew 15.2% year on year or 1.18% month on month to RMB 1.57 trillion.

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