Re­tail sales ‘on track’ for 14% an­nual growth: Of­fi­cial

China Daily (Hong Kong) - - BUSINESS DIGEST -

China is on track to achieve its tar­get of boost­ing re­tail sales by an an­nual av­er­age 14 per­cent be­tween 2011 and 2015, even amid a mod­est slow­down in growth this year, Com­merce Min­is­ter Gao Hucheng said in re­marks pub­lished on Mon­day. Re­tail sales are likely to grow 13 per­cent in 2013, slow­ing from the an­nual av­er­age rise of 15.7 per­cent in the pre­vi­ous two years, due to weaker house­hold in­comes and a crack­down on of­fi­cial ex­trav­a­gance, Gao said.

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