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

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

Topic |   China economy
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’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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