shoppers helping steer china straight - household electrical appliances

BEIJING (TheStreet)--
According to the latest government statistics, 1 billion of Chinese consumers are doing their part to help the Chinese economy get rid of export habits, something Beijing has been trying to do since the 2008 global financial crisis.
Retail spending rose 13 last year. 1% year-on-
More than 23 years.
4 trillion yuan, about $3.
8 trillion, the National Bureau of Statistics of the Chinese government announced on Monday.
That figure shows a slight drop in shopping enthusiasm from a year ago, when the government's retail spending rose 2012.
From 3% to 20 trillion yuan last year.
Nevertheless, the bureau's latest report shows that,
The growth of digital retail proves that China's efforts to transform to more consumers are making progress --
Even as gdp growth slows, China's economy is still in a fundamental state.
In addition, the bureau said in its annual economic data report on Monday that China's GDP grew by 7.
The year before 7% in 2013, the slowest expansion in14, mainly due to the decline in foreign demand in Chinamade goods.
Domestic consumption is almost entirely urban, with urban consumers accounting for 87% of all retail spending.
The bureau cited three of the biggest increases last year: cars, up 10. 4%;
Furniture, 21%;
And household appliances, up 14 year on year. 5%. --
Eric Johnson from Beijing
This article represents the views of the contributors, not necessarily the views of Wall Street or its editors.