Total retail sales of China’s consumer goods fell by 0.70 per cent in H1 ’22, according to the latest statistics released by National Bureau of Statistics (NBS) of China.
From January to May 2022, the retail sales in China increased to RMB 21,043 billion ($ 3,120 billion), of which RMB 628.20 billion ($93.12 billion) was contributed by apparel and accessories.
The apparel and accessory sales plunged by 6.50 per cent in the first half of 2022 on yearly basis.
However, particularly in June ’22, the sales increased by 1.20 per cent, signaling the economy is opening up after months of lockdown in various cities of China.
China’s online retail sales reached RMB 6,300.70 billion (US $ 934 billion), an increase of 3.10 per cent year-on-year, whereas the online retail sales of clothing improved by 5.10 per cent.
