The aggregate
retail value of Chinese consumer goods reached RMB 8492 billion in the
first seven months 2010, up 18.2% compared to the same period of last
year, according to the latest figures of China’s National Bureau of
Statistics (NBS). The growth rate is about the same with that of July
2010, the authorities added…The retail value of apparel, shoes,
hats and knitted consumer goods reached RMB 314 billion in the same
period under review. The value was RMB 38.8 billion in July 2010 alone,
up 24.4% from the same month last year…In addition, the
industrial value added of the country’s textile and apparel sector
increased 11.6% in the January-July period this year, and the growth
pace slightly slowed down by 0.1 percentage point. The value added of an
industry, also known as gross domestic product (GDP)-by-industry, is
the contribution of an industry, in this case textile and apparel
sector, to overall GDP of China. Also in this period, the price level of
Chinese consumption on clothing decreased by 1% while the factory-gate
price of clothing, i.e. the price of goods charged by manufacturers, was
1.8% more expensive compared to the same period last year