Overview of China's Economy and Trade (Part II)
In 2015, the consumer price index rose 1.4 percent. Among them, food prices increased 2.3 percent and non-food prices increased 1 percent. In 2016, the consumer price index rose 2 percent with food prices increasing 2 percent and non-food prices increased 1.4 percent. In the January–August period of 2017, the consumer price index rose 1.5 percent while food prices increased 1.7 percent and non-food prices increased 2.3 percent.
Retail sales of consumer goods
Total retail sales of consumer goods increased 10.7 percent in 2015 (10.6 percent real growth). In 2016, retail sales grew 10.4 percent (real growth 9.6 percent). In the January–August period of 2017, retail sales increased 10.4 percent, of which sales of home appliances grew 10.5 percent, clothing and footwear 7.3 percent, furniture 13 percent, jewelry 7.1 percent and automobiles 5.9 percent.
Manufacturing Purchasing Managers' Index
China's Manufacturing Purchasing Managers' Index (jointly compiled by the China Federation of Logistics and the Purchasing and China Logistics Information Centre) edged up from 51.4 in July 2017 to 51.7 in August 2017.
In terms of money supply, the growth rate of total loans in July 2017 increased from 12.7 percent in June 2017 to 13 percent. RMB loans rose 13.2 percent in July 2017 (In June 2017, growth rate was 12.9 percent).
In recent years, the non-state sector of mainland China has expanded rapidly and flourished. The status and economic contribution of private enterprises were officially recognized at the Ninth National People's Congress held in March 1999. By the end of 2010, there was 845,520 private enterprises in China. By the end of 2015, the number of private enterprises reached 19.08 million.
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