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Second India-Japan strategic dialogue on economic issues
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India-Brazil-South Africa to cooperate in health sector
South Korea:
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India:
Indian government approves re-structured APDRP
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Restoration of Indo-Pak dialogue to push trade
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India-Brazil-South Africa to cooperate in health sector
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Fastest Growth for Thailand Economy in Six Quarters
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Taiwan Enjoy Expanded Trade Surplus
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China Sees Rampant Consumer Sales Growth
by Stewart DouglasChinese consumer sales growth is rampant, expanding at the quickest rate in over three years, according to figures released today.
The Chinese economy, growing quicker than any other economy worldwide, is seeing a rise in retail sales, driven by rising wages and disposable incomes nationwide.
China grew economically by eleven and a half percent over the first half of the year, beyond analyst expectations, and way beyond even its closest Eastern counterparts.
Consumer retail sales were up by a staggering 16.4% over the year in July, showing 0.4% point growth since June’s 16% figures were released.
Excluding inflation, retail sales were calculated to have grown by as much as 5.6% through the course of July, reflecting a rapid expansion in high street profits.
Analysts have attributed much of the growth to the rising employment levels and income of average Chinese employees - the same effect that has seen inflation reach the highest rate in over a decade.
Consumer confidence is thought to be buoyant as a result of increasing state welfare provisions, alongside a consistently booming stock trade in China’s biggest companies.
Exports are continuing to drive the economy, with the suppressed yuan helping to shift more produce to international shores, while home demand looks to be rising, particularly amongst luxury consumer products.
Simultaneously, Beijing is adopting measures to improve domestic consumption to minimise the importance of exports to manufacturers.
Chinese market confidence has reached an all-time high, with thriving business and a rapidly growing retail sector. Additionally, the trade surplus with the US has continued its growth trend, up 5.7% on the month.
However, the threat of inflation, which has led to an increase in the bank CCR, is still posing a problem, with price growth soaring beyond recent records in line with the economy’s rapid growth strategy.
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