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Agricultural Development Bank of China
Economy

China's retail sales rebound over efforts to contain coronavirus

March 09, 2020


Abstract : China's retail sales have picked up amid efforts to contain the outbreak of novel coronavirus disease (COVID-19) and strengthened consumer demand, an official said Thursday.

BEIJING, March 5 (Xinhua) -- China's retail sales have picked up amid efforts to contain the outbreak of novel coronavirus disease (COVID-19) and strengthened consumer demand, an official said Thursday.

Average daily sales of 1,000 retail companies monitored by the Ministry of Commerce (MOC) climbed 5.6 percent in late February from mid-February, the first increase since late January, MOC official Wang Bin told a press conference.

Auto sales jumped 14.8 percent from mid-February, while telecommunications gadgets and home appliances edged up 11.7 percent and 11.1 percent, respectively.

Effective epidemic prevention and control measures, work resumption on a larger scale, along with pent-up demand being released, have helped push up retail sales, according to Wang.

Market sales will continue to improve once the epidemic is contained, said Wang.

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Keyword: China economy retail market

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