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Retail sales to grow slower in 2015

Xinhua, April 10, 2015 Adjust font size:

China's retail sales will grow 11 percent year on year in 2015, Yu Bin, a researcher with the Development Research Center of the State Council, forecasted on Friday.

That would be a slight slowing from the 12-percent annual gain seen in 2014, which Yu said would be attributable to sluggish property and auto sales.

A Moody's research note said in January that property sales in China will decline by up to 5 percent in 2015, compared to a 7.8-percent decline in 2014.

China's auto sales growth slowed in the first quarter this year, according to data issued by the China Association of Automobile Manufacturers on Thursday. The 3.9-percent year-on-year growth marked a significant deceleration from the 9.2-percent rise in the first quarter of 2014 and the 6.9-percent increase for the whole of 2014. Endi