Changsha registers hefty performance in Q1

Changsha has registered a good start this year in its consumer market, with retail sales of consumer goods reaching 107.74 billion yuan ($17.12 billion) in the first quarter, an increase of 11.1 percent year-on-year, according to the Changsha statistics bureau on April 22. 

Changsha's result was 1.3 percentage points higher than the national average and was in advance of forecasts. Data revealed that the encouraging outcome was boosted by the good performance in sales of high-end automobiles and petroleum products.

During the first three months, Changsha garnered a total of 12.65 billion yuan in wholesale trades, up 4.4 percent over the previous year, and 84.22 billion yuan in retail sales, up 4.3 percent.  

Consumers select products at a cosmetics counter in Changsha. [Photo/icswb.com]

Due to a tax adjustment levied on passenger vehicles that took effect in early 2017, the automobile industry experienced a surge at the end of 2016, resulting in fewer auto sales in early 2017.

The low base of the same period of 2017 explained why this year's growth in the value of auto retail sales above a designated size at 17.3 percent was the highest for the last four years.

Sales of six automobile brands, Mercedes-Benz, BMW, Shanghai Volkswagen, Cadillac, Porsche and Lincoln, ranked in the top 10, with retail sales reaching a value of 2.73 billion yuan.

The auto show attracts a large number of visitors. [Photo/icswb.com]

At the same time, emerging markets including new business models and new commercial activities are developing fast, bringing the online wholesale and retail sales of enterprises above a designated size to 5.43 billion yuan, a staggering increase of 72.7 percent year-on-year.

Among the 133 enterprises engaged in online retail trades, 26 registered sales exceeding 10 million yuan.

In recent years, with its overall operation environment improving, Changsha's traditional retail industry has been picking up through actively expanding distribution channels and opening of new shops -- another booster to the city's positive performance.