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China retail sales rise 9.4% YOY in April

Total retail sales in China reached 2.854 trillion Chinese yuan in April, an increase of 9.4% year over year, according to the latest figures released by the National Bureau of Statistics.

Urban areas saw retail sales rise 9.2% year over year to 2.453 trillion yuan, while the figure jumped 10.6% to 401.4 billion yuan for rural areas.

Across different segments, food and beverage businesses posted revenue of 302.4 billion yuan for the month, up 9.6% year over year. Retail sales of consumer goods increased 9.4% to 2.552 trillion yuan.

Combining the first four months together, total retail sales in China grew 9.7% year over year to 11.882 trillion yuan.

Online retail sales during the four-month period surged 32.4% year over year to 2.579 trillion yuan. Among these, physical goods achieved online retail sales of 1.95 trillion yuan, up 31.2% on the year and accounting for 16.4% of the total retail sales in China.

As of May 14, US$1 was equivalent to 6.34 Chinese yuan.