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| China's aggregate domestic consumption rose 18.2% in first seven months this year to RMB 8492 billion |
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The textile and apparel industry of China continued to grow. The domestic consumption on clothing as well as consumer goods in general also increased during the first seven months of 2010.
The aggregate retail value of Chinese consumer goods reached RMB 8492 billion in the first seven months 2010, up 18.2% compared to the same period of last year, according to the latest figures of China's National Bureau of Statistics (NBS). The growth rate is about the same with that of July 2010, the authorities added.
The retail value of apparel, shoes, hats and knitted consumer goods reached RMB 314 billion in the same period under review. The value was RMB 38.8 billion in July 2010 alone, up 24.4% from the same month last year.
In addition, the industrial value added of the country's textile and apparel sector increased 11.6% in the January-July period this year, and the growth pace slightly slowed down by 0.1 percentage point. The value added of an industry, also known as gross domestic product (GDP)-by-industry, is the contribution of an industry, in this case textile and apparel sector, to overall GDP of China. Also in this period, the price level of Chinese consumption on clothing decreased by 1% while the factory-gate price of clothing, i.e. the price of goods charged by manufacturers, was 1.8% more expensive compared to the same period last year.
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