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China’s Online Retail Sales Growth Slows

By Tang Ziyi / Oct 07, 2019 05:54 PM / Economy

Photo: VCG

Photo: VCG

China’s online retail sales growth weakened in the first eight months of this year, official data showed, amid a slowing national economy.

Online retail sales rose by 16.8% year-on-year over the period, down from the 28.2% growth the year before, according to data published last month by the National Bureau of Statistics.

The domestic online retail market recorded sales of 6.4 trillion yuan ($900 billion) from January to August. Sales of physical goods, including products such as clothes and food, were up 20.8% to 5.1 trillion yuan during the period, the data showed.

The lackluster performance comes as China grapples with a slowing economy and trade frictions with the U.S. In August, China’s major economic indicators, including fixed-asset investment and value-added industrial output, posted worse-than-expected performances.

Contact reporter Tang Ziyi (ziyitang@caixin.com)

Related: Update: China’s Economic Activity Slowed Further in August

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