The Ministry of Commerce released a report on commodities market operation for the first quarter this year. The report highlights five features as follows for China's commodities market.

Consumer prices have been kept rising. The first three months saw CPI up 3.2 percent,2.1 percent and 3.0 percent over the same month last year respectively in urban and rural areas. The accumulative CPI was 2.8 percent higher than the same period last year, much more than last year's increase of 1.2 percent.

Consumption structure was upgraded. New consumption was still gathering momentum. Sedans sales surged 44.5 percent in the first quarter over the same period last year. The housing sector sold 44 percent more than the same period last year and telecommunication generated more revenue by 14.6 percent. Enthusiasm on consumption of auto, housing, communication and other products from emerging sectors will continue.

Modern circulation system developed fast while traditional industries presented new growth points. In the first quarter, chain businesses stepped up restructuring. Modern circulation system including logistics and e-commerce were booming.

The eastern areas were further expanding their market. In the first quarter, the total retailing sales of consumers good in this region climbed 12.7 percent, accounting for 60.9 percent of the national total.

The composition of import and export products was further improved. Imports of energy and raw materials which are urgently demanded by the national economic development and market accelerated. Exports of resource products, products of heavy pollution and heavy energy consumption, as well as those with a tight supply in the domestic market declined sharply.

By People's Daily Online