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Chinese Retailers Posted 24.5% Growth In January

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Retail sales in January 2009 showed encouraging growth, due in part to government policies geared at boosting domestic demand and economic growth. The top 1,000 retailers in China posted a 24.5% increase in year-on-year sales compared to January 2008, according to the Ministry of Commerce.

Retail sales of food; cigarettes and alcohol; and gold and silver jewelry grew by 28.9%, 47.2% and 29.2%, respectively, from the same period in 2008.

The sales surge was also driven by the three-day western New Year holiday and the seven-day Spring Festival (Chinese New Year), both of which took place this year in January.
Source: Asia Pulse

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