Beijing reports double-digit growth rate in retail sales

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Last updated at: (Beijing Time) Saturday, September 27, 2003

Beijing reports double-digit growth rate in retail sales

Beijing's retail sales surged 14 percent year-on-year to reach 121.43 billion yuan (14.68 billion US dollars) in the first eight months of the year, latest statistics show.

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Beijing's retail sales surged 14 percent year-on-year to reach 121.43 billion yuan (14.68 billion US dollars) in the first eight months of the year, latest statistics show.

According to the city statistical bureau, Beijing registered retail sales totaling 16.26 billion yuan (1.96 billion US dollars)in August alone, a rise of 15.4 percent year-on-year.

Due to the outbreak of the severe acute respiratory syndrome (SARS) disease, Beijing's retail sales dropped 20.8 percent in the second quarter compared with the first quarter.

Beijing's retail sales in the first quarter totaled 48.13 billion yuan (5.81 billion US dollars).

Retail sales began to pick up in July, topping an average of 15.98 billion yuan (1.93 billion US dollars) in July and August.

Judging from the current market situation, insiders forecast anover 10 percent increase rate for retail sales in Beijing in 2003.

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