China’s Auto Retail Sales Maintained 23.5% Growth From 2003 to 2011 image

China saw an annual increase of 23.5% in auto retail sales from 2003 to 2011.

The data comes from the 5th report in the study series of the National Bureau of Statistics on economic development in China. The report shows that the average car ownership per hundred households has increased to 18.6 vehicles at the end of 2011 from 0.9 at the end of 2002.

The study also revealed that sales rates for furniture and appliances have also increased, while sales of luxury services and items, including jewelry, cosmetics, entertainment products and electronic goods, managed maintain growth rates of over 10% annually. Average numbers for mobile phones and computers per hundred households have risen to 2.05 million units from 629,000 and to 819,000 units from 206,000, respectively.

During the first quarter of this year retail sales increased 14.8% to 4.9319 trillion yuan ($783.03 billion). From January to March urban retail sales of consumer goods reached 4.27 trillion yuan, an increase of 14.9% year-on-year, while retail sales in rural areas increased 14.6% to 663.1 billion yuan. In the first quarter of 2012 China’s economy increased 8.1%, down from 8.9% in the fourth quarter of 2011.