Ministry of Commerce: The actual purchasing power of China's retail sales has exceeded that of the United States, being 1.6 times that of the United States.

【Ministry of Commerce: China's retail sales actual purchasing power has exceeded the United States, 1.6 times that of the United States】Caixin News, July 18th. At a press conference held by the State Council Information Office on the theme of "High-quality completion of the '14th Five-Year Plan'", Minister of Commerce Wang Wentao stated on July 18 that from 2021 to 2024, in terms of absolute value, China's retail sales have reached about 80% of the United States; in terms of actual purchasing power, according to data and algorithms provided by the World Bank, China's retail sales have exceeded those of the United States, being 1.6 times that of the United States.

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