China’s retail sales surged 21.4% in the first half of 2008, according to figures from the National Bureau of Statistics.
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With retail sales reaching CNY5.1 trillion (US$747bn), sales in urban areas were up 22.1% to CNY3.48trn. Sales in rural parts of China climbed 20% to CNY1.62trn.
The figures highlighted why many international retailers view China as a key emerging market, where buoyant growth can offset more mature markets in the West.
However, inflation remains a problem in China. The consumer price index went up by 7.9% during the first six months of the year, although it eased slightly in June, down 0.6% from May.
Inflation is being driven by soaring producer prices and rising food prices. The price of food jumped 20.4% in China during the first half of this year, the bureau said.
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