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Director Of Market Operation Department Of MOFCOM On The Operation Of Consumer Market In The First Three Quarters Of 2019

2019/10/24 17:21:00 2

The First Three Quarters Of The Consumer Market

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. In 1-9 months, 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 main highlights are as follows:

No.1
Basic living expenses are booming.
The retail sales of daily necessities, Cereals, oils, foodstuffs, beverages, cosmetics and Chinese and Western medicines increased by 13.6%, 10.6%, 9.8%, 12.8% and 10.1%, respectively. The growth rate increased by 0.2, 0.3, 0.6, 0.8 and 1 percentage points respectively over the same period last year.

No.2
Steady development of service consumption
The per capita service consumption expenditure of the whole nation increased by 10.2%. The national food and beverage revenue increased by 9.4% over the same period last year, which is 1.4 percentage points higher than that of retail sales. Service consumption accounts for 50.6% of the final consumption expenditure of residents, up 0.7 percentage points over the same period last year.

No.3
Rapid growth of online retailing
Online retail sales of physical commodities increased by 20.5% over the same period last year, accounting for 19.5% of the total social and total volume, representing a 2 percentage point increase over the same period last year. The National Express service company has completed 43 billion 900 million business volume, an increase of 26.4% over the same period last year.

No.4
Growth in rural and Midwest
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 ahead. In 1-8 months, Jiangxi, Yunnan, Henan, Hubei and Sichuan grew by more than 10%, higher than the national average.

No.5
Rapid growth in imports of consumer goods
Consumer goods totaled 1 trillion and 40 billion yuan in 1-9 months, an increase of 15.3% over the same period last year. * from the main varieties, the import of pork and beef increased by 43.6% and 53.4% respectively, and the imports of fruits, seafood and edible vegetable oils increased by 42.3%, 35.9%, 34.8%, respectively. The import of cosmetics and pharmaceuticals increased by 39.9% and 25.8% respectively, while the import of electric powered car imports increased by 93.7%.

No.6
Consumer prices rose slightly
Consumer prices rose 2.5% in the 1-9 months. September rose 3% over the same period, of which livestock prices rose 2.03 percentage points. The prices of edible agricultural products monitored by the Ministry of Commerce in 36 large and medium-sized cities increased by 8.4% year-on-year, up 16.6% in September.

At the same time, the consumption of automobiles and oil and products is sluggish, affecting the growth rate of zero growth. In addition, sales growth of gold and silver jewelry, communications equipment, building materials, furniture and household appliances decreased by 8.1, 4.3, 4.2, 4.2 and 2.3 percentage points respectively.

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.