Shanghai s retail sales reached 445.764b in first 3 Qs of 2010

Shanghai Municipal Bureau of Statistics has published its latest retail statistics, stating that Shanghai's consumer retail sales reached 445.764 billion in the first nine months of 2010, a year-on-year increase of 17.6%.

Due to the Shanghai World Expo, which was just closed on October 31, Shanghai's consumer market has maintained continuous and rapid development, and the monthly growth rates of its retail sales were all above 15%, with exception of January 2010.

By industry, Shanghai's wholesale and retail industries saw stable growth, while the retail sales of its hotel and dining industries experienced faster growth. During the first three quarters of 2010, Shanghai's wholesale and retail industries were stimulated by the large sales of automotives, oil, home appliances, and gold, realizing retail sales of 395.587 billion and a year-on-year increase of 17.7%.

With domestic tourists surging into the World Expo site, Shanghai's hotel and dining sales increased by 16.8% year-on-year to 50.177 billion during the reporting period. Of which, the average monthly increase rate from June to September was above 25%.