ChinaVirtuoso

SHANGHAI’S merchandise sales are set to grow 8 percent this year, with retail sales to rise 8 percent and e-commerce to jump 20 percent, the Shanghai Commission of Commerce said yesterday.



The city set the same 8 percent year-on-year target for merchandise sales and retail sales this year.
E-commerce is set to soar 20 percent, with online transactions exceeding 1 trillion yuan (US$ 160 billion) this year. The import and export of goods and services are set to grow 5 percent each.

In 2017, the city’s merchandise trade rose 12 percent year on year to 11.3 trillion yuan, 4.1 percentage points faster than 2016, the commis*sion said.
Shanghai ranked first in China for retail sales at 1.2 trillion yuan, up 8.1 percent yearly, with the growth pace 0.1 percentage point faster than 2016’s.

more...