HEADLINE Where did Chinese people spend money in the first two months of 2018?

HEADLINE

Where did Chinese people spend money in the first two months of 2018?

By Wu Kai | People's Daily app

15:49, March 15, 2018

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Photo:Xinhua

China's retail sales of consumer goods grew 9.7 percent year on year to reach 6.1 trillion yuan (about $965 billion) in the first two months of 2018, official data showed on Wednesday.

Consumers’ passion for buying goods for Spring Festival online boosted the online shopping market. The national online retail sales of physical goods in first two months is 907.3 billion yuan, an increase of 35.6 percent, accounting for 14.9 percent of China's retail sales of consumer goods. 

Service consumption has maintained strong growth momentum. The catering services gained 661.3 billion yuan, up 10.1 percent. Total box office receipts reached 15.1 billion yuan, an increase of about 39 percent.

Chinese consumers are spending more money on upgrading their lifestyle, on such goods and services as cosmetics, home appliances and clothes. The total sales of cosmetics, home appliance and clothes is up by 12.5 percent, 9.2 percent and 7.7 percent, respectively.

Auto sales rose 9.7 percent. Total sales of new energy vehicles reached 75,000, or a 200 percent increase, according to statistics released by China Association of Automobile Manufacturers.

Consumer prices rose 2.2 percent. And the prices of edible agricultural products in 36 large and medium-sized cities was up by 0.9 percent.

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