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China retail sales pick up
Britain News.Net
Wednesday 14th May, 2008
China's retail sales of consumer goods have risen 22 percent in one year.
Retail sales of consumer goods in April in urban and country areas were up by 22.9 percent and 20.1 percent respectively.
China's consumer price index, the main gauge of inflation, rose 8.5 percent year-on-year in April, compared with 8.3 percent in March and a nearly 12-year-high of 8.7 percent in February.
China's central bank moved to raise the reserve requirement ratio for commercial banks by 0.5 percentage point on Monday, lifting China's reserve requirement ratio to a new high of 16.5 percent.
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