China’s online retail sales growth weakened in the first eight months of this year, official data from the National Bureau of Statistics (NBS) showed, amid a slowing national economy, said Caixin.
Online retail sales rose by 16.8% year-on-year over the eight months, down from the 28.2% growth the year before, according to the NBS data published last month. The domestic online retail market recorded sales of RMB 6.4 trillion ($900 billion) from January to August.
The lackluster performance comes as China grapples with a slowing economy and trade frictions with the US In August, China’s major economic indicators, including fixed-asset investment and value-added industrial output, posted worse-than-expected performances.