Beijing's consumer spending exceeds 1 trillion yuan in first 5 months

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Beijing saw its consumer spending in the first five months of this year reach 1091.86 billion yuan (US$ 158.69 billion), up 7.9% year-on-year, thanks to the city's series of policies to boost service and goods consumption, according to the municipal statistics bureau.

From January to May, online retail sales of the city's businesses above the designated scale reached 117.35 billion yuan, up 29.7% year-on-year, serving as the main engine to drive total retail sales of consumer goods by 6.2 percentage points. And spending in services and restaurants surged 9.9% and 6.8% to 632.2 billion yuan and 47.24 billion yuan respectively. 

In addition, the total retail sales of consumer goods reached 459.66 billion yuan, up 5.2% year-on-year and 1.4 percentage points from the first quarter of the year.

According to Beijing Municipal Commerce Bureau, the city has issued a myriad of measures to boost service and goods consumption, targeting on nighttime economy and key shopping districts. Mall-clustered Wangfujing, Gongzhufu, Huilongguan and Qianmen will be upgraded to meet people's spending needs.

Beijing has also issued action plans to optimize the city's service quality and environment. A series of events, including "Beijing International Brand Festival" and "Asian Food Festival" were held across the city to further stimulate the local consumption.

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