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China sees retail sales continue to go up
By AMY CHEUNG
Published: July 30, 2006 12:00 AM
China's retail sales are expected to rise 13.5 percent from a year earlier to 4.264 trillion yuan as a consequence of rapid economic growth in the second half, Forbes reported, citing the China Economic Times. According to Qi Jingmei, a senior economist at the State Information Center's economic forecasting department, retail sales are expected to grow 13.3 percent for the full year, 0.4 percent higher than 2005, with taking inflation into account. In the first half of 2007, the growth rate of consumption demand is likely to continue to quicken, but will slow in the second half, said Forbes, quoted Qi. China has said it wants to boost domestic consumption to reduce its dependenc eon exports and investments for growth.
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