China’s retail sales grew 16.4% year-on-year in July - the fastest pace since May 2004 – to US$92.57 billion (RMB699.8 billion), fuelled by inflation and rising household incomes, the China Economy reported, citing figures fromthe National Bureau of Statistics. Retail sales rose 15.5% year-on-year to US$648.15 billion (RMB4.9 trillion) for the first seven months. Big gainers were jewellery ...