Retail Sales of Consumer Goods Will Top $2.2 Trillion in 2010

Cars Are Now a Leading Industry in China

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BEIJING (AdAgeChina.com) -- Retail sales of consumer goods in China will maintain a 20% growth rate to exceed RMB 15 trillion ($2.2 trillion) in 2010, according to the Chinese Academy of Social Sciences.

The academy's latest China commercial development report said automobile sales have become a leading industry. In 2009, 13.6 million cars were sold in China and the figure may surpass 15 million units in 2010.

Online shopping is another bright spot, particularly for sales of home appliances. The value of online shopping accounted for 2% of total consumer goods sales in 2009, up from 1% in 2008. That figure is expected to double again by the end of this year to reach RMB 500 billion ($73.2 billion)
Source: Asia Pulse


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