On November 20, Shen Danyang, spokesman for China’s Ministry of Commerce (MOC), commented that Chinese domestic consumption levels witnessed a steady rebound in the first 10 months of the current year, going on to state that sales of household appliances in China rose by two percent in October over September, indicating a third consecutive month-on-month rise.
The MOC official also noted that urban consumption levels in China rose by 14.5 percent in October as compared to September. As stated by Mr. Shen, in October sales of 3,000 key retail enterprises in China monitored by the MOC rose by 8.5 percent month-on-month. In the survey of these 3,000 enterprises, sales of automobiles, furniture, and construction materials were up by 9.9 percent, 7.6 percent and 10.5 percent respectively, all year-on-year, indicating rises of 3.8, 3.2 and four percentage points respectively compared with the year-on-year growth rates recorded in September.