20 May 2019

Minister sees big room for consumer market growth, Xinhua says

Commerce Minister Gao Hucheng said the country’s consumer market has a big room to grow amid robust demand, particularly in some service sectors such as elderly care, tourism and culture, the official Xinhua news agency reported Monday. The ratio of the country’s consumption to gross domestic product is at least 10 percentage points less compared with that of other countries at a similar stage of economic development. Retail sales in the first 10 months of 2013 grew 13 percent, 1.1 percentage points slower than the same period last year, the report said, citing data from the National Bureau of Statistics. This was due to a number of factors, including flagging housing income growth and an end to several stimulus measures, Gao was quoted as saying.

– Contact HKEJ [email protected]




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