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7-Sep-2010 10:52 AM

China retail sales may outstrip US by 2016

China’s Political Consultative Conference stated China’s retail sales may outstrip those of the US by reaching CNY34 trillion (USD5 trillion) in 2016 (Bloomberg, 06-Sep-2010). Retail growth may then slow after 2016 to approximately 10%, with a total annual value exceeding CNY50 trillion by 2020.