China May retail sales up 11.1% to RMB293 bln

The State Statistics Bureau announced that China May retail sales increased 11.1% from the same period last year to hit RMB292.96 bln, higher than market expectation of 9.95% and the figure of 9.7% in April.

The bureau said that the sharp increase in retail sector can be attributable to the 7-day Labor Day holidays.

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