In The First Three Quarters, Net Sales Of Physical Clothing And Other Physical Goods Increased By 20.5% Over The Same Period Last Year.

In October 21st, the director of the market operation Department of the Ministry of Commerce introduced the operation of China's consumer market in the first three quarters of 2019.

The official pointed out that the first three quarters of the domestic consumer market is generally stable. From January to September, the total retail sales of consumer goods reached 29 trillion and 700 billion yuan, an increase of 8.2% over the same period last year. The basic role of consumption in economic growth continued to consolidate, and the contribution rate of final consumption expenditure to economic growth reached 60.5% in the first three quarters. The consumption of basic living is booming, and retail sales are increasing rapidly. Among them, online retail sales of physical goods such as textiles and clothing increased by 20.5% over the same period last year, accounting for 19.5% of the total volume of social goods, representing a 2 percentage point increase over the same period last year.

Retail sales of rural consumer goods grew by 9% over the same period last year, an increase of 1 percentage points higher than that of cities and towns, accounting for 14.5% of the total volume of consumer goods. The growth rate in the central and western regions kept the leading position. From January to August, Jiangxi, Yunnan, Henan, Hubei and Sichuan grew by more than 10%, higher than the national average. From January to September, consumer goods totaled 1 trillion and 40 billion yuan, an increase of 15.3% over the same period last year.

The head said that in the face of the complex and changeable economic and trade environment at home and abroad, the domestic consumer market grew steadily in the first three quarters, and played a role as stabilizer and ballast stone for economic growth. With the deepening of the structural reform of the supply side, the further implementation of policies and measures such as tax reduction, fee reduction, reform of "letting go of services", the development of circulation to promote business consumption, and the rapid development of the new mode and new format, it is expected that consumption will remain stable in the later stage.