|2004 retail white paper: China's deflation ends (19/10/04)|
China has issued the 2004 white paper on the retail sector, saying the five-year long deflation has ended and the country's social and economic development has entered a new and critical period.
The white paper is published by the China General Chamber of Commerce and the National Commercial Information Centre, reported China Radio International.
It says the gross domestic product of China's wholesale, retail, trade and catering sectors last year accounted for close to eight percent of the national total, compared with about seven percent in 2002.
In addition, the retail price index has stopped dropping, while domestic consumption has increased as more consumers are buying cars, computers, home appliances and mobile phones.
Tourism and sales of commercial apartments have also increased rapidly.