China's retail sector maintains recovery momentum in August
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E-mail Xinhua, August 14, 2023
Customers choose clothes at a market in Yantai, east China's Shandong Province, Aug. 9, 2023. [Photo/Xinhua]
An industrial survey has indicated growing confidence among Chinese retailers about business prospects as the country stepped up policy measures to spur growth.
The China Retail Performance Index, a barometer of retailers' expectations for the sector, stood at 50.3 percent in August, edging up 0.2 percentage points from July and staying in the expansion zone for eight consecutive months, according to the China General Chamber of Commerce.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The upward trend of the index since the start of this year serves as evidence proving the resilience of the Chinese economy, the chamber said.
China has rolled out a raft of pro-growth policy measures, which is of great significance in restoring the confidence of businesses and the public, it added.
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