Recently, Guangzhou Development Research Center of Guangzhou University released the blue paper 2015 Guangzhou Economic Situation Analysis and Forecast and disclosed the operation of consumer goods market of Guangzhou last year. In 2014, Guangzhou’s total retail sales of consumer goods continued ranking the 3^rd in China last year, grew at above 10% year on year, the 2^nd quickest growth among eight major cities. According to the blue paper, Guangzhou’s total retail sales of consumer goods reached 769.785 billion yuan in 2014, ranking the 3^rd after Beijing (909.809 billion yuan) and Shanghai (871.865 billion yuan) and greatly higher than Chongqing, the 4^th with 509.620 billion yuan.

 

Among the eight major cities, Guangzhou, a traditional commercial center, ranked the 2^nd in the growth rate of total retail sales of consumer goods. Only three of the eight cities saw a growth above 10%, i.e. Chongqing (13%), Guangzhou (12.5%) and Suzhou (12.0%). Guangzhou is the only traditional commercial city with a two digit growth of total retail sales of consumer goods. Other traditional ones only had a one-digit growth, such as Beijing (8.6%), Shanghai (8.7%), Shenzhen(9.3%) and Tianjin (6.0%).

 

Source: Excerpts from Nanfang Daily, July 16, 2015