Taizhou sees robust consumption recovery in Jan-Aug period

chinadaily.com.cn | Updated: 2021-09-27

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A supermarket in Taizhou, East China's Zhejiang province. [Photo/taizhou.com.cn]

Retail sales of consumer goods by above-quota enterprises in Huzhou amounted to 39.739 billion yuan ($6.11 billion) in the first eight months of this year, official data showed.

The figure also represented a year-on-year increase of 25 percent, with the growth rate being the second highest in East China's Zhejiang province.

Over the eight-month period, the sales of above-quota restaurants in the city increased 47.2 percent to 2.193 billion yuan.

The aggregate sales of automobiles, as well as petroleum and related products by above-quota enterprises reached 18.834 billion yuan and 8.29 billion yuan, up 26.8 percent and 30.3 percent year-on-year respectively.

The city's urban area saw stronger consumption recovery trends than its rural area, according to the data.

Wenling, Luqiao, and Jiaojiang were the top three administrative areas in Taizhou in terms of total retail sale volume from January to August, while Yuhuan, Xianju, and Tiantai possessed the top three highest growth rates.

The city's consumption recovery is primarily a result of the stable income growth among local residents, which was due to the effective domestic control of the COVID-19 epidemic.

Official data showed that the balance of domestic and foreign currency deposits in the city amounted to 1.15 trillion yuan by the end of August, up 11.1 percent year-on-year.