In the first 7 months, China's service retail sales increased by 20.3% year-on-year. Retail sales | Service | China

Release time:Apr 14, 2024 21:59 PM

Beijing, August 15th (Xinhua) - The National Bureau of Statistics increased the release of service retail sales data for the first time on August 15th. Data shows that from January to July, China's service retail sales increased by 20.3% year-on-year, significantly faster than the growth rate of 7.3% in the total retail sales of consumer goods during the same period.

Fu Linghui, spokesperson for the National Bureau of Statistics, introduced at the press conference of the State Council Information Office on the same day that the retail sales of services mainly refer to the total value of non production and non business services directly provided by enterprises to individuals and other units in the form of transactions, aiming to reflect the value of services sold by service providers in monetary form that belong to consumption, including the retail sales of services in transportation, accommodation, catering, education, health, sports, entertainment and other fields.

"To help various sectors of society understand the situation of service consumption, starting from August 2023, we will release the cumulative growth rate of service retail sales on a monthly basis. This is also an important achievement of the National Bureau of Statistics in promoting the reform of statistical methods and systems." Fu Linghui said that the total retail sales of consumer goods in society focus on reflecting the consumption of physical goods, but do not include consumption of other services besides catering services, which is difficult to fully reflect the development of the consumer market. To this end, the National Bureau of Statistics has carried out reforms in the methods and systems of trade and economic statistics, expanded the scope of consumption statistics, and established indicators that reflect the development of service consumption, namely service retail sales.

In recent years, the National Bureau of Statistics has conducted in-depth research on statistical methods for the service consumption market, conducted trial calculations of service retail sales, gradually accumulated calculation experience, continuously enriched data sources, and improved calculation methods. Currently, the statistical monitoring mechanism is established and sound, and data production is stable and smooth. From the calculation results, it can be seen that the match between service retail sales and relevant indicators is good, which can objectively reflect the operating situation of the service consumption market.


In the first 7 months, China's service retail sales increased by 20.3% year-on-year. Retail sales | Service | China

From the situation in July, the overall consumer market remained stable, with a good increase in service-oriented consumption. From January to July, the retail sales of services increased by 20.3% year-on-year. Driven by the expansion of service demand, service prices increased by 1.2% year-on-year in July, an increase of 0.5 percentage points compared to the previous month, indicating a significant driving effect of service consumption.

Fu Linghui said that from the next stage, the overall employment situation will gradually improve, which is conducive to increasing household income. With the gradual improvement of market confidence and consumption expectations, consumption is expected to maintain a sustained growth trend.

Two women were stabbed to death and reported to have committed a crime 4 days before the follow-up visit for schizophrenia. Suspect of a bloody murder case in a Hong Kong shopping mall appeared in court today. Male | Last Friday | Murder case
Two women were stabbed to death and reported to have committed a crime 4 days before the follow-up visit for schizophrenia. Suspect of a bloody murder case in a Hong Kong shopping mall appeared in court today. Male | Last Friday | Murder case

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Secretary of the Provincial Party Committee: The focus of Henan's "summer harvest" has shifted to agricultural machinery in the northern region of Henan Province. | Support | Science | Organization | Province | Northern Henan | Summer Harvest | Rush Harvest
Secretary of the Provincial Party Committee: The focus of Henan's "summer harvest" has shifted to agricultural machinery in the northern region of Henan Province. | Support | Science | Organization | Province | Northern Henan | Summer Harvest | Rush Harvest

Currently, the highly anticipated summer harvest work in Henan has shifted its focus to the northern region of Henan. According to the Henan Daily client, on June 4th, Lou Yangsheng, Secretary of the Henan Provincial Party Committee, presided over a special video scheduling meeting on the "Three Summers" work in the province, listened to the situation report, analyzed and judged the situation, and arranged and deployed the next steps of work. Governor Wang Kai made specific arrangements. On the evening of May 31, 2023, in Xiafutou Village, Xuliang Town, Boai County, Jiaozuo, Henan Province, villagers braved light rain in the wheat fields to harvest wheat. Visual China Map Lou Yangsheng pointed out that the current summer harvest battle in the province has entered the decisive stage. Doing a good job in summer harvest in northern Henan Province is related to the summer grain yield and seed safety. We should focus on seizing opportunities and make every effort to organize the wheat harvesting work in the northern Henan region, minimize losses, and protect the interests of farmers to the greatest extent possible. Accurate forecasting is essential

Xinhua All Media+| Welcome home! What innovative technologies are protecting the return journey of Shenzhou 15? Spaceship | Shenzhou | Technology
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The Chinese naval fleet has arrived! Assembly | Navy | Chinese Fleet
The Chinese naval fleet has arrived! Assembly | Navy | Chinese Fleet

At noon today, a Chinese naval fleet consisting of Zhanjiang and Xuchang ships arrived at the assembly area of the "Comodo-2023" multinational maritime joint exercise. It is understood that the assembly anchorage for this exercise is 3 nautical miles long and 1.5 nautical miles wide, capable of anchoring up to 50 ships. Naval vessels from various countries participating in the exercise will also arrive at the anchorage today to complete the assembly of the "Komodo 2023" multinational maritime joint exercise, which is held every two years by the Indonesian Navy. This year is already the fourth edition of the exercise. The exercise will be held from June 5th to 8th in the city of Jakarta, South Sulawesi Province, Indonesia, including the port and sea phases. In the coming days, participating navies from various countries will participate in ship reading style search and rescue exercises, maritime interception and damage management exercises, aerial exercises, and other course objectives exercises

New comment: Donkey like "morale" limit pulls US debt "bomb" fuse hard to dismantle US | debt | morale
New comment: Donkey like "morale" limit pulls US debt "bomb" fuse hard to dismantle US | debt | morale

On the evening of June 1st, the US Senate passed a bill on the federal government's debt ceiling and budget, and the flame of the US debt bomb was temporarily extinguished at the last moment. The two parties in the United States have staged an extreme tug of war over the US debt bomb. Some experts believe that the US debt crisis is the result of the reckless politics promoted by the US dollar hegemony, and the underlying cause of this crisis is the highly polarized political system of the US. Since the end of World War II, the US Congress has adjusted the debt ceiling more than a hundred times. The recurring debt crisis will not only have a catastrophic impact on the US economy and people's livelihoods, but also continuously erode the value of US dollar assets such as government credit and US bonds, bringing significant and far-reaching impacts to the global economic landscape. 【