The total retail sales of consumer goods in China reached 3,197.3 billion yuan (US$447.91 billion) in May 2020, down by 2.8% year on year, registering a decline narrowed by 4.7 percentage points compared with that in April.
The month-on-month growth of China’s consumer retail sales in May was 0.79%.
In the first five months, the total retail sales of consumer goods reached 13,873.0 billion yuan, down by 13.5% year on year, a decline narrowed by 2.7 percentage points over the first four months.
In May, the retail sales in urban areas reached 2,788.1 billion yuan, down by 2.8% year on year. And the retail sales in rural areas reached 409.2 billion yuan, down by 3.2% YoY.
The revenues of the catering was 301.3 billion yuan, down by 18.9%; and the retail sales of physical products were 2,895.9 billion yuan, down by 0.8%.
The retail sales of goods for basic living grew fast. In May, among the retail sales by businesses above the designated size, Daily Living Commodities, Beverage, and Grain/Oil/Food went up by 17.3%, 16.7% and 11.4% year on year respectively.
In May, sales of upgraded consumer goods continued to grow. Sports & Recreational category and Cosmetics went up by 15.4% and 12.9% respectively, 3.8 percentage points and 9.4 percentage points higher than that in April.
Automobiles grew by 3.5%. China’s automobile sales reached 2.194 million units in May 2020, a year-on-year increase of 14.5%, according to the China Association of Automobile Manufacturers (CAAM). Find out more here.
China’s online retail sales in the first five months of 2020 reached 4,017.6 billion yuan (US$567.61 bn), up by 4.5% year on year, 2.8 percentage points higher than that of the first four months.
Of the total, the online retail sales of physical goods went up by 11.5%, 2.9 percentage points higher than the first four months, accounting for 24.3% of the total retail sales of consumer goods, or 0.2 percentage points higher than that of the first four months.
Online sales of food and commodity goods increased by 37.0% and 14.9% respectively while apparel online sales decreased by 6.8%