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China's 2015 commerce development contributes to global economic growth: minister

By REUTERS

FEBRUARY 23, 2016 06:09

Updated: FEBRUARY 23, 2016 06:08

China's commerce development in 2015 had more highlights of growth and made important contributions to global economic growth, said the country's Commerce Minister Gao Hucheng on Tuesday.

"The first aspect is that there were more highlights of growth. In terms of consumption, China's total retail sales of consumer goods reached 30.1 trillion yuan in 2015, up 10.7 year on year. Contribution rate of consumption for social economic growth reached 66.4 percent, up 15.4 compared with 2014," Gao said. That means that China realized a major transformation of economic growth, from growth mainly driven by investments and foreign trade to one mainly driven by domestic demand, especially by consumption, the minister said.

Gao said China's trade decline in 2015 was much lower than those of its main trading partners and the world in general.

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