Free Trial

MNI BRIEF: China's Online Retail Sales Higher Again: MOFCOM

China's online retail boom continued in the first nine months of the year, with sales exceeding CNY8 trillion, a rise of 9.7% y/y, Gao Feng, a spokesman at the Ministry of Commerce said at Thursday's regular briefing. Online sales of goods reached CNY6.6 trillion, rising 15.3% y/y, accounting for 24.3% of the overall retail sales, said Gao.

Online service consumption picks up faster, with internet-based catering services increasing by nearly 10% y/y in Q3, while the growth rate of online tourism stopped the declines seen earlier in the year, Gao said.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
True
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.