In November, trade-ins of consumer goods continued to deliver benefits. A raft of consumption promotion activities were held, and the consumption market maintained stable growth. According to the National Bureau of Statistics, the total retail sales of consumer goods reached 4.38 trillion yuan this month, up by 3.0 percent year on year. In the first eleven months, the total retail sales of consumer goods reached 44.27 trillion yuan, up by 3.5 percent year on year.

First, the consumption of big-ticket goods showed sound growth. According to the National Bureau of Statistics, the retail sales of goods were 3.8 trillion yuan in November, up by 2.8 percent; the retail sales of household appliances, automobiles and furniture by enterprises above the designated size growing by 22.2 percent, 6.6 percent and 10.5 percent respectively, and the growth rates of the retail sales of automobiles and furniture were 2.9 percentage points and 3.1 percentage points faster than that in last month respectively.

Second, consumption in services grew fast. According to the National Bureau of Statistics, the retail sales of services in the first eleven months increased by 6.4 percent year on year, 3.2 percentage points faster than the retail sales of goods. In November, the business revenue of catering grew by 4.0 percent, 0.8 percentage points faster than that of last month.

Third, online consumption maintained stable growth. According to the National Bureau of Statistics, the online retail sales in the first eleven months was up by 7.4 percent year on year, and the online retail sales of physical goods were up by 6.8 percent, accounting for 26.7 percent of the total retail sales of consumer goods. According to the State Post Bureau, the parcel volumes in November increased 14.9 percent year on year.

Fourth, consumption in urban and rural areas reached coordinated development. In November, the retail sales of consumer goods in urban areas reached 3.76 trillion yuan, up by 2.9 percent year on year; and that in rural areas reached 616.7 billion yuan, up by 3.2 percent, accounting for 14.1 percent of the total retail sales of consumer goods. In the first eleven months, the retail sales of consumer goods in urban areas and that in rural areas increased by 3.3 percent and 4.3 percent respectively.