17 January 2025
The Weekly
China

The National Bureau of Statistics also revealed that China‘s GDP grew 5.4% during the latest fourth quarter, a 1.6% increase year-over-year and the highest growth level of the year. Sales of consumer goods grew a moderate 3.5% year-over-year and reached RMB487.8bn(US$66.5bn). Online sales rose 7.2% year-over-year to RMB155.2bn (US$ $21.1bn). For the fourth quarter, sales of consumer goods increased 3.8%. Hospitality sectors continued to outperform discretionary segments such as apparel and jewelry. Sports and recreation sales grew 11.1% year-over-year, restaurant sales increased 5.3%, and alcohol sales grew 5.7%. However, gold and jewelry sales declined 3.1% year-over-year, and cosmetics sales contracted 1.1% year-over-year. Apparel goods sales inched up 0.3% year-over-year.