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15 July 2015

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Consumer Goods Market Sees an Increase in the First Quarter

2016-05-06 Download Print
A report on the consumer goods market of Hunan Province during the first quarter this year was released by the Department of Commerce of Hunan Province on April 28, 2016. The market witnessed a steady growth in the first three months, with a continued recovery of the catering industry yet a slightly lower consumer confidence index. The consumption potential of the rural market will be a highlight in the future, to foster new consumer mode and growth point.
Hunan has realized a total retail sales of consumer goods of 302.72 billion yuan from Jan. to Mar. in 2016, a year on year increase of 11.2%, 0.9 percentage point lower than the same period last year, yet 0.9 percentage points higher than the national average level. Its catering industry was up by 13.3%, 1.9 percentage points higher than the same period last year, and 1.2 percentage points higher than 2015, keeping a tendency to rebound.
Huge consumption potential has been seen in rural market, which calls for more investment in rural circulation infrastructure construction, much improved rural commercial network, enhanced establishment of rural consumption market, and lower circulation cost of the rural market. Meanwhile, the Department of Commerce will continue invigorate the rural consumption market via taking such actions as “encouraging e-business to come to rural village”, “shaking off poverty via e-commerce”, “bringing agricultural goods downtown”, and “introducing industrial products to the countryside”.
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Translator: Yu Jiangjiang
Chinese source: