China’s retail sales for the first time surpassed 40 trillion yuan in 2019, up more than 42 per cent from 2015. Photo: Bloomberg
China’s retail sales for the first time surpassed 40 trillion yuan in 2019, up more than 42 per cent from 2015. Photo: Bloomberg

China to overtake US to become world’s top consumer goods market ‘very soon’

  • Retail sales in China reached US$6.2 trillion last year, and Beijing is switching its focus to its domestic economy to support the economy
  • The figure puts China around US$200 billion shy of American consumer spending in 2019, official says

China’s retail sales for the first time surpassed 40 trillion yuan in 2019, up more than 42 per cent from 2015. Photo: Bloomberg
China’s retail sales for the first time surpassed 40 trillion yuan in 2019, up more than 42 per cent from 2015. Photo: Bloomberg
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