On December 14, the head of MOFCOM Department of Market Operation and Consumption Promotion introduced China’s consumption market operation in November, 2018.
According to the National Bureau of Statistics, the total retail sales of consumer goods reached 3526 billion yuan in November, up 8.1% year on year, 0.5 percentage points lower than that in October. After being adjusted for inflation, the actual growth rate in November was 5.8%, 0.2 percentage points higher than that of last month; the accumulative retail sales of consumer goods in January-November increased by 9.1% year on year. The sales of 5,000 key retail enterprises monitored by MOFCOM increased by 4.2% in November year on year, 0.3 percentage points lower than that of last month. The accumulative sales in January-November increased by 4.4%. The head of MOFCOM Department of Market Operation and Consumption Promotion pointed out that the growth of total retail sales of consumer goods in November slowed down, mainly influenced by the decline of automobile sales and that of petroleum goods’ prices, which pulled down the total retail sales of consumer goods by 0.7 percentage points. In general, the consumer market still maintained a stable development trend, mainly showing the following characteristics:
First, the new business modes maintained rapid growth. According to the National Bureau of Statistics, the online retail sales of physical commodities in January-November reached 6271 billion yuan, up 25.4% year on year, accounting for 18.2% of the total retail sales of consumer goods, up 3.3 percentage points over the same period of the previous year. In November, the Ministry of Commerce focused on monitoring the retail industry. The growth rate of sales of shopping centers, supermarkets, and convenience stores increased by 0.9, 0.7, and 0.2 percentage points respectively over those of the previous month.
Second, the service consumption continued to heat up. In November, the national catering revenue was 452.5 billion yuan, up 8.6% year on year, 0.6 percentage points higher than that of the retail of goods. The national movie box office was 3.73 billion yuan, setting a new record for the month, up 29.3% year on year.
Third, the sales of basic living and upgrading goods grew faster. In November, the sales of daily necessities, grain, oil and food, and clothing above the designated size increased by 16%, 10.6% and 5.6% respectively, up by 5.8, 2.9 and 0.7 percentage points respectively over those of the previous month; the year-on-year growth rates of household appliances, office products, building materials, and gold, silver and jewelry sales were 7.7, 2.9, 1.3 and 0.9 percentage points higher than those of the previous month respectively.
Forth, the consumption price rose mildly. In November, the CPI (consumer price index) was up 2.2% year on year, 0.3 percentage points lower than that of last month. The accumulative CPI in January-November was up 2.1% year on year. In November, the price of edible agricultural products in 36 large and medium-size cities monitored by MOFCOM was up 4% year on year and down 1.8% month on month. The accumulative CPI in January-November rose by 2% year on year.
The responsible person said that as the policies of developing the real economy and private enterprises, strengthening tax reduction and fee reduction, advancing major infrastructure construction, and promoting consumption are implemented, market confidence are gradually recovering, the market environment has continued to be optimized, and the consumer market is expected to maintain the development trend of stable and continuous upgrading.
MOFCOM Department of Market Operation and Consumption Promotion Comments on Consumption Market Opera
Date:2019-01-28 Hits:27
