July 1-7 in Beijing: Social Consumer Goods Retail Sales Reach 7674.3 Billion CNY, Down 4.2%

　　Glocom 8/18｜According to the Beijing Statistics Bureau, from January 1 to July, Beijing's total market consumption volume increased by 0.7%. Among them, service-oriented consumption grew by 4.6% driven by information services, transportation, and cultural entertainment. The social consumer goods retail sales reached 7674.3 billion CNY, down 4.2%. From a product category perspective, wholesale and retail businesses above a certain threshold saw growth in categories such as household appliances and audio-visual equipment due to the "old for new" policy, with a year-on-year increase of 6.9%, an improvement of 2.3 percentage points over the first half of the year. Jewelry, grain, and oil products, cosmetics, and sports entertainment goods saw relatively fast growth, respectively up by 32.7%, 12.1%, 8.2%, and 6.1%. Automobile sales were affected by insufficient demand for fuel-powered vehicles, down 19.0%. The retail sales of cultural office supplies and communication equipment also decreased due to changes in the sales channels of some large-scale enterprises, respectively down 3.6% and 24.4%. In terms of consumer types, social consumer goods retail sales totaled 6882.3 billion CNY, down 4.3%, while food and beverage revenue reached 792.0 billion CNY, down 3.6%.