1st LD: China's retail sales of consumer goods grow 5.5 pct annually since 2021: minister

BEIJING, July 18 (Xinhua) -- The retail sales of consumer goods in China grew 5.5 percent on average annually over the past four years, and are expected to top 50 trillion yuan (about 7 trillion U.S. dollars) in 2025, Chinese Minister of Commerce Wang Wentao said Friday.

The retail sales of consumer goods in China rose to 48.3 trillion yuan in 2024 from 39.1 trillion yuan in 2020, Wang said.

According to the World Bank, in terms of actual purchasing power, China's retail sales of consumer goods have surpassed that of the United States, reaching 1.6 times that of the United States last year. Enditem