China’s retail sales down 3.9 pct in 2020

China’s retail sales of consumer goods, a major indicator of consumption growth, fell 3.9 percent year on year in 2020, the National Bureau of Statistics said Monday.

Sales of the consumer goods reached 39.2 trillion yuan (about 6.05 trillion U.S. dollars) last year.

In the fourth quarter, the total retail sales of consumer goods grew by 4.6 percent year on year, 3.7 percentage points higher than that in the third quarter.

In 2020, the national online retail sales reached 11.76 trillion yuan, up 10.9 percent year on year, the data showed.