China's wholesale and retail sectors generated a value-added output of 9.4 trillion yuan (about 1.32 trillion U.S. dollars) in the first nine months of this year, marking a 5.4 percent year-on-year increase. In the wholesale sector, the turnover of China's major commodity markets during the nine months increased by 6.8 percent over last year, with significant rises in means of production and industrial goods, which grew by 12.5 percent and 7.5 percent, respectively.
Retail sales from January to September reached 31.4 trillion yuan (about 4.4 trillion U.S. dollars), marking a year-on-year increase of 3 percent. In terms of retail formats, the sales of convenience stores, professional stores, and supermarkets above the designated size increased by 4.7, 4.0 and 2.4 percent, respectively.
Notably, both cities and rural areas witnessed a surge in consumption. China's key business districts saw a 14.5 percent average rise in consumers, while the retail sales of consumer goods in rural areas reached 4.8 trillion yuan (about 670 billion U.S. dollars), featuring an even faster increase than urban sales.
Government policies and promotional activities have also had a positive impact. The ongoing home appliances trade-in program, a government-sponsored initiative to stimulate consumption, has attracted 20 million applicants and 10 million purchases, and the 2024 "Time-Honored Brands Carnival" has generated clicks-and-mortar sales of 16.7 billion yuan (about 2.4 billion U.S. dollars).
China's wholesale, retail sectors see steady growth in first three quarters
Over 10,000 domestic and international buyers and exhibitors flocked to Chenghai District of Shantou City of Guangdong Province in south China on Friday for the 23rd International Toy Expo, expecting to seize more business opportunities.
Known as "the capital of toys," Chenghai District produces one third of the global plastic toys. Taking the chance of the Toy Expo, over 3,000 international buyers gathered to cooperate with local toy makers, posing to further expand Chenghai's vibrant toy industry, as contracts totaling over 12 billion yuan (about 1.7 billion U.S. dollars) have been signed.
"Overseas clients have diversified requirements for products. So, we roll out 30 to 40 new types of toys every year. Our export has reached around 300 million to 400 million yuan this year, featuring a 35 percent growth," said Xie Yipeng, president assistant of a toy company in Guangdong.
As an economic pillar of the region, Chenghai's toy industry exports to over 120 countries and regions, with total exports amounting to over 6.7 billion yuan (about 950 million U.S. dollars) from January to August this year, at a growth rate of eight percent.
For the future, Chenghai expects to enhance its reputation in toy making, positioning the Toy Expo as a landmark event for China's toy industry, said Wang Jianfeng, executive deputy head of the Chenghai Toy Association.
"(We are to) build (the Toy Expo) into a landmark event for China's toy industry, and expand the influence and prestige of Chenghai toys through this platform, so as to stimulate the vigorous development of toy industry and culture," said Wang.
Global buyers flock to Shantou toy expo
