China’s consumer market saw a recovery in July as retail sales upped by 2.70 per cent; however, the sales figures remained negative during January to July ’22 period.
According to the latest statistics released by National Bureau of Statistics (NBS) of China, during the 7-month period of 2022, the retail sales in China valued RMB 24,630 billion (US $ 3,595.67 billion).
Of total retail sales figures, RMB 724 billion (US $ 105.69 billion) was contributed by apparels and accessories.
The apparel and accessory sales declined by 5.60 per cent in January to July ’22 period of 2022.
Particularly in July ’22, the sales were marginally up by 0.80 per cent and valued RMB 96.40 billion (US $ 14.10 billion).
During the mentioned period, as per official data, China’s online retail sales reached RMB 7,322.40.70 billion (US $ 1,069 billion), an increase of 3.20 per cent year-on-year, whereas the online retail sales of clothing improved by 5 per cent.
