(MENAFN) China's retail sales value is expected to expand by around 12 percent in 2014 to nearly USD4.4 trillion, Vice Commerce Minister revealed, Xinhua reported.
China's retail sales increased by 12 percent over a year ago to USD3.86 trillion in the first eleven months. Data for the whole year is expected to be released by next week.
In the first three quarters of this year, consumption overtook investment as the biggest driver of the economy and contributed 48.5 percent to economic growth.
To steer the economy onto a more sustainable track, the government has been at pains to switch from over-reliance on investment and exports to consumption.
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