Nanyang consumer retail sales continue to grow

Retail sales of consumer goods in Nanyang reached 126 billion yuan ($19 billion) in the first three quarters of 2017, up 11.3 percent year-on-year.

Of the total, retail business increased by 11.6 percent to 90.6 billion yuan, while wholesale business grew by 8 percent to 17.4 billion yuan.

The turnover for the hotel and catering industries registered a growth rate of 13 and 12.9 percent to reach 1.3 billion yuan and 16.7 billion yuan respectively.

Despite the downward pressure faced in the wider economy, the market for consumer goods is playing an increasingly important role in fostering local economic growth.

After years of rapid development, Nanyang has seen its consumption structure experience a transition from a quantity-oriented model to a much more quality-oriented one.