China Retail Performance Index, a barometer of retailers’ expectations for the sector, stood at 50.4 percent in April, staying in the expansion zone for 12 consecutive months, an industrial survey has indicated.
The sub-indexes for commodity business, leasing business, and e-commerce business stood at 50.3 percent, 50.2 percent and 50.8 percent respectively in April, all marking increases from the previous month, according to the China General Chamber of Commerce.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
China’s retail sales of consumer goods, a major indicator of the country’s consumption strength, climbed 5.5 percent year on year in the first two months of this year, data from the National Bureau of Statistics showed.
China vowed to expand domestic demand and promote sound economic flows, while promoting steady growth in consumer spending this year, according to a government work report.
