China's Retail Sales April 2022

According to the latest figures released by the National Bureau of Statistics, retail sales of consumer goods, a key indicator of Chinese consumption, fell by 0.2 percent in the January-April period to RMB 13.81 trillion.

Sales of retail items in April were down 11.1% from a year earlier at RMB 2.95 trillion. The COVID-19 resurgence dragged down the growth of China's overall retail sales last month, primarily affecting non-daily necessities and catering. Catering decreased by 22.7% to RMB 261 billion in April. Retail sales fell sharply in regions severely affected by COVID-19, such as the Yangtze River Delta and northeast China.

Consumers' basic needs were met regardless of the drop in retail sales, resulting in a rise in sales of relevant products.

According to NBS data, major enterprises sold more beverages in April, while sales of grain, oil, and other food products increased by 10 percent.

The first four months of 2022 saw supermarket sales increase by 3.6 percent. Sales from groceries and convenience stores rose 2.4 percent and 6.8 percent, respectively.

Online consumption also boosted China's retail sales. The percentage of physical goods sold online reached RMB 3,288 billion, up 5.2 percent during the first four months of 2022, accounting for 23.8 percent of the total retail sales of social consumer goods.

The Chinese government has issued several consumer-friendly policies and measures to keep consumer demand growing in the country.