MNI BRIEF: China Consumer Market Strong In November - MOFCOM
MNI (BEIJING) - China’s consumer market performed well in early November, with sales of home appliances, communication equipment and apparel from major retail enterprises up 45%, 28%, and 6% respectively, year-on-year, He Yongqian, spokesperson for the Ministry of Commerce, told reporters on Thursday.
Sales for catering, accommodation, leisure and entertainment rose 10% in early November, He added. Looking ahead, the consumer market will continue the positive trend of recovery, He continued.
China's authorities will provide support in coming years to heavily-indebted local government off-balance-sheet financing vehicles as a CNY10 trillion debt swap programme announced last week excluded the vast bulk of their liabilities, policy advisors told MNI. (See: MNI: China Local Debt Plan Needs To Be Supplemented - Advisors)