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China Commerce min sees 2007 retail sales up 13%

Written by: Staff

BEIJING, Dec 5 (Reuters) China's Ministry of Commerce has forecast the country's retail sales will grow by about 13 percent in 2007 to 8.6 trillion yuan ($1.1 trillion), the official Xinhua news agency reported on Tuesday.

Xinhua's Web site cited the ministry as saying that the economy's stable and rapid growth, along with Beijing's steps to boost consumption in rural areas, would create favourable conditions for continued strong growth in household spending.

Retail sales grew 14.3 percent from a year earlier in October.

Annual growth in the first 10 months of the year was 13.6 percent.

($1=7.8230 yuan) REUTERS CS KN1637

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