However, the 10.2 per cent growth rate was lower than the 10.6 per cent growth recorded in June 2016.
In July, retail sales of consumer goods in rural areas grew by 10.7 per cent year-on-year, while the growth was 10.1 per cent in urban areas, the data showed.
From January to July 2016, China's retail sales of consumer goods jumped 10.3 per cent to 18.3 trillion yuan. During the same period, online sales shot up by 27.5 per cent to 2.6 trillion yuan.
Currently, Chinese economy is undergoing transition from an export-driven economy to a consumer society. At this juncture, retail sales are contributing significantly to China's economic growth.
Last year, consumption accounted for 66.4 to China's GDP. (RKS)
Fibre2Fashion News Desk – China
Textiles | On 14th Apr 2021
Sri Lanka is all set to ban the import of textile fabrics in a bid to ...
Apparel/Garments | On 14th Apr 2021
Readymade garment exports from Bangladesh declined by 2.55 per cent...
The idea of a global minimum corporate tax floated by the US has...
Textile Industry Head honchos
Increased need for online fitting solutions as retailers shift to...
Wearables have very limited reach
Marry craft and utility
Kurt Wedgwood
From design to raw material to fabrication and ultimately to delivery -...
Meghavi Suthar
Founded by NIFT graduate <b>Meghavi Suthar </b>in 2017, Kala is an...
Ritu Oberoi
Established in 2018, Forsarees is a socially driven business enterprise,...
Sameer Sonkusale & Rachel Owyeung Tufts University
A team at the Tufts University in Massachusetts was recently in news for...
Sanjay Raut Garware Technical Fibres Ltd
Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...
Silverio Baranzano Fitesa
Fitesa is a leader in the nonwoven fabrics industry, specialising in...
Seema Gujral Label Seema Gujral
<b>Seema Gujral</b>'s designs for her eponymous label revolve around...
Abhishek Bajaj & Samiksha Bajaj Samshek
Samshek is a fashion forward tech brand which combines digital experience...
Anjali Bhaskar Samatvam
Anjali Bhaskar has an experience of 12 years in the fashion industry. She...
Press Release
Letter to Editor
RSS Feed
Search Companies
editorial@fibre2fashion.com
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
Download Free Report
Rising Opportunities in Technical Textiles Market: 2020-2026
Thank you for showing interest in our free report on 'Rising Opportunities in Technical Textiles Market: 2020-2026'
You will receive an email shortly with a link to download the report and in case if you don't receive our email, you can write back to texpro@fibre2fashion.com.
Thank You!
