China’s retail sales in April grew by 8.2 per cent from a year earlier to reach Yn305bn, according to the National Bureau of Statistics, down from 8.3 per cent in March. Urban sales grew by 9.4 per cent year-on-year to stand at Yn192bn, while retail sales at the county level and below were up by 6.2 per cent to Yn113bn.
April’s sales were bolstered by strong growth in urban personal incomes, which grew by 16.2 per cent year-on-year in the first quarter. Rural cash incomes rose by 7.2 per cent in the same period. The bureau also said that the change of season meant there was a strong demand for household electrical appliances, as well as wines and tobacco ahead of the May Day holiday.