Post sponsored by NewzEngine.com

MIL OSI Translation. Region: Peoples Republic of China-China Statistical Information Network-Chinese-

Commodity retail sales increase in July, catering revenue continues to improve

To

——Zhang Min, a statistician from the Department of Trade and Foreign Economic Relations of the National Bureau of Statistics, interpreted the data of total retail sales of consumer goods in July

To

   In July, the epidemic prevention and control situation continued to improve, residents’ living order continued to be restored, and wholesale, retail, accommodation and catering enterprises resumed business and the market steadily progressed. Driven by various policies such as the implementation of the strategy of expanding domestic demand and promoting the consumption of key commodities, market sales continued to improve, commodity retail sales achieved year-on-year growth, catering revenue continued to rebound, and new consumption maintained rapid growth.

To

   1. Market sales continued to improve, and retail sales of goods turned from decline to increase

To

   The consumer goods market has improved further. Residents’ shopping and dining activities have gradually resumed, and market sales have steadily picked up. In July, the total retail sales of consumer goods fell 1.1% in nominal year-on-year terms, and the rate of decline narrowed by 0.7 percentage points from June, and the rate of decline narrowed month by month; after deducting price factors, the actual decline was 2.7%, narrowing by 0.2 percentage point.

To

   Commodity retail sales achieved year-on-year growth. Affected by the impact of the epidemic, the retail sales of goods in each month of the first half of the year decreased year-on-year. As the epidemic prevention and control continued to consolidate, the commodity retail market continued to recover. In July, the retail sales of goods increased by 0.2% year-on-year, and in June it fell by 0.2%. It achieved positive growth for the first time during the year. Among them, the retail sales of commodities above designated size increased by 3.0% year-on-year, which was 2.6 percentage points faster than in June. Among the 18 commodity retail sales of units above designated size, the retail sales of 12 commodity categories increased year-on-year, of which the retail sales of 4 commodities such as communication equipment maintained double-digit growth.

To

To

To

  Second, double-digit growth of automobile products, rapid growth of consumption upgrade products

To

   The rapid growth of retail sales of automotive products. Due to the low base during the same period (decreased by 2.6% in July 2019), and benefiting from a number of policies to stabilize and promote automobile consumption issued by the central and local governments, in July, the retail sales of automobile commodities above designated size increased by 12.3% year-on-year. The second highest growth rate since 2017 (the highest value is June 2019). According to data from the China Association of Automobile Manufacturers, passenger car sales in July increased by 8.5% year-on-year, 6.7 percentage points faster than in June; data from the China Automobile Dealers Association also showed that the comprehensive sales of passenger cars in July increased by 8.0% year-on-year. In June, it fell by 6.1%, which all reflected that the growth of automobile sales volume has accelerated significantly.

To

   Some consumer upgrade products maintained rapid growth. In July, the retail sales of books, newspapers, magazines and communication equipment of units above designated size increased by 12.8% and 11.3% year-on-year respectively, maintaining double-digit growth; the retail sales of cosmetics, sports and entertainment products increased by 9.2% and 7.6% respectively , Respectively 6.2 and 4.6% higher than the retail sales of units above designated size.

To

   3. New consumption momentum continues to be released, and online physical retail is growing rapidly

To

  New consumption continues to accelerate. Since the beginning of this year, online retail formats such as fresh food e-commerce and store-to-home have grown rapidly, and online shopping has maintained rapid growth. From January to July, the national online retail sales of physical goods increased by 15.7% year-on-year, 1.4 percentage points faster than that from January to June; the online retail sales of physical goods accounted for 25.0% of the total retail sales of consumer goods, an increase of 5.6 percentage points from the same period last year. Among them, food and consumer products sold through the Internet increased by 38.2% and 18.6% respectively year-on-year, both maintaining rapid growth; clothing products fell by 0.9% year-on-year, and the decline was narrowed by 2 percentage points from January to June.

To

To

To

To

  4. The accommodation and catering industry resumed business and the market continued to advance, and corporate income improved significantly

To

   As the epidemic prevention and control situation continues to improve, accommodation and catering activities have noticeably resumed, and related industries have accelerated their improvement. According to the rapid survey data of the National Bureau of Statistics, as of July 27, the proportion of accommodation and catering companies that reached 50% or more of the normal operating level increased by 4.5 percentage points from June 17. The overall recovery of the catering industry has reached nearly 90%. In July, catering revenue fell by 11.0% year-on-year, and the rate of decline narrowed by 4.2 percentage points compared with June, and improved for four consecutive months. Among them, the catering income of units above designated size rebounded significantly, catering income fell by 8.2%, and the decline narrowed by 4.7 percentage points. The operating conditions of the accommodation industry have improved significantly. The rate of decline in the room revenue of accommodation enterprises above designated size in July was 3.8 percentage points lower than that in June.

To

   5. Relevant industries are in the business expansion zone, and market vitality is picking up faster

To

   Both the retail and catering business activity indexes in July were above the line of prosperity. Among them, the retail business activity index has been above the prosperity and decline line for five consecutive months, and the catering industry has been above the prosperity and decline line for four consecutive months. The number of travelers has increased significantly, and market vitality has steadily recovered. According to data from China National Railway Corporation, in July, the national railways sent more than 200 million passengers, an increase of 39.95 million from the previous month, an increase of 24%.

To

  Currently, constraints on the release of consumer demand still exist. The size of the consumer goods market has not yet recovered to the pre-epidemic level. However, in recent months, the decline in market sales has continued to narrow, and the consumer market has shown a clear recovery trend. In the next stage, with the implementation of the strategy of expanding domestic demand, the work of “six stability” is steadily promoted, the tasks of “six guarantees” are continuously implemented, and the effect of promoting consumption policies is further revealed, and the consumer goods market is expected to continue to improve.

To

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

MIL Translation OSI