(MENAFN) On Sunday, Sep. 26 an official stated that the Chinese retail trade of consumer commodities are projected to hit 44 trillion yuan (around USD6.8 trillion) this year.
Wang Bin, an official with the Ministry of Commerce, noted at a press meeting that the expected data will indicate a rise of around 12.5 percent from 2020 and 8 percent from the previous year.
Taking into account the expansion month by month in the July-December period of last year, the year-on-year expansion trend of consumption will be "low-after-high" over 2021, Wang noted, further saying that China’s consumption will maintain its stable rebound in the fourth quarter.
According to Wang, for the approaching National Day holiday, in which strong consumption is projected, China is boosting market tracking and releasing stockpiles to guarantee the appropriate supply of daily needs.
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