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Hainan's consumer sector up 13.6% reaching $11.79 billion in January-April

In four months, the retail sales of soft drinks on the island grew by 57.5%, clothing - by 39.4%, alcohol - by 21.3%, medicines - by 13.3%

HAIKOU /China/, May 22. /TASS/. Consumption in Hainan in January-April amounted to 82.76 billion yuan ($11.79 billion at current exchange rate), up 13.6% year on year. This was reported by the Provincial Bureau of Statistics.

"The process of increasing retail sales has accelerated. The economy and life in general have normalized due to the easing of anti-COVID restrictions, and the consumption growth rate has increased," commented Lin Jingyun, director of the Department of Trade, Foreign Trade and Tourism under Hainan Provincial Bureau of Statistics. "Hainan's volume of consumer goods sales in January-April amounted to 82.76 billion yuan, up 13.6% over the same period last year".

The official said the rate of growth was 6.9 percentage points higher than in January-March. Last month alone Hainan's consumption growth rate was 38.9%, 21 percentage points higher than in March.

According to the data, retail sales of soft drinks on the island for four months increased by 57.5%, clothing - by 39.4%, alcohol - by 21.3%, medicines - by 13.3%. The duty-free sector was also up, with sales of luxury watches in duty-free stores up 57.1%, household goods up 39.6% and perfumes and cosmetics up 12.4%.

"In the next phase, as economic growth stabilizes and consumption promotion measures are effectively implemented <...> the market is expected to maintain a positive recovery trend," Lin Jingyun summed up.

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