China's retail sales growth to top 13%

Date : 2013-12-19  | From : Xinhua

China's retail sales of consumer goods will grow by more than 13 percent year on year for 2013, the Ministry of Commerce said on Wednesday.

Improving economic growth and the country's determination to shift to a domestic demand-driven expansion model has boosted consumers' confidence. Sales growth is likely to increase for the remainder of the year, ministry spokesman Shen Danyang said at a press conference.

Online shopping and strong sales of telecommunication equipment also boosted retail sales, Shen said.

Shen expected the strong momentum of consumption growth to maintain in the first quarter next year.

In the first 11 months of 2013, retail sales grew 13 percent, according to the National Bureau of Statistics. Retail sales in November alone was up 13.7 percent year on year, the highest rate of increase this year.