Ministry Of Commerce: In 2019, The Total Retail Sales Of Social Consumer Goods Will Exceed 40 Trillion Yuan In The First Place.

A few days ago, at the national business conference held by the Ministry of Commerce, the responsible person of the Ministry of Commerce said that the total retail sales of consumer goods in China will be the first time to exceed 40 trillion yuan in 2019, reaching 41 trillion and 100 billion yuan, and will maintain the first driving force for economic growth for six consecutive years.

According to relevant media, the total retail sales of consumer goods in China in 2018 totaled 38 trillion and 100 billion yuan, and the new format of consumption was booming. Modern supply chain, e-commerce, digital consumption and so on were integrated, and the volume of online retail sales exceeded 9 trillion yuan, an increase of 23.9%.

In the 1-11 month of this year, the total retail sales of consumer goods in China reached 37 trillion and 300 billion yuan, up 8% from the same period last year, which is already close to 2018 annual data. In addition, it is worth mentioning that in 1-11 months, the retail sales volume of the whole country was about 9 trillion and 500 billion yuan, up 16.6% over the same period last year, exceeding the full year data for 2018.

Therefore, many experts say that with the continuous expansion of consumption scale, China will surpass the United States as the world's largest consumer market this year or next year.

Among them, Zhao Ping, director of the Department of international trade research of the China Council for the promotion of trade promotion, said in an interview with Shanghai Securities Daily that "the gap between China and the United States has narrowed to 280 billion US dollars in 2018. The scale of China's consumption is equivalent to 95.36% of that of the United States. It is a conservative estimate that China will surpass the United States in 2020 and become the world's largest consumer market."