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BEIJING, June 11 (Xinhua) -- China's retail sales, the main gauge of consumer spending in the world's fastest-growing economy, rose 18.7 percent year on year to 1.25 trillion yuan (183 billion U.S. dollars) in May, the National Bureau of Statistics (NBS) announced Friday.The growth rate was 3.5 percentage points higher than the same period last year and 0.2 percentage points higher than April's, said NBS spokesman Sheng Laiyun.Urban consumption hit 1.08 trillion yuan in May, up 19.1 percent year on year, while rural residents spent 163.7 billion yuan, up 15.8 percent. A woman walks by a sale advertising poster in Beijing, capital of China, May 11, 2010.In the first five months, total retail sales climbed 18.2 percent to 6.03 trillion yuan. The growth rate was 3.2 percentage points higher than the same period last year.The government rolled out a series of incentives to bolster consumption to counter the fallout from the global economic downturn, including subsidies for home appliances in rural areas and tax breaks for auto purchases, in early 2009, among others.China's auto sales in May rose 28.35 percent from a year earlier to 1.44 million units, bringing combined sales in the first five months to 7.6 million units, up 53.25 percent from a year earlier.Monthly sales of home appliances in China's countryside surged 220 percent year on year in May to 12.6 billion yuan. The figure for January-May period was 54.35 billion yuan, up 400 percent from year on year.

LHASA, Tibet, June 8 (Xinhua) -- The 11th Panchen Lama on Tuesday visited rural homes in Shannan Prefecture and chatted with peasants before finishing his first visit to this part of southern Tibet."I never dreamed a Living Buddha would come to my home," said Mila, 49, a resident in Ztang Township.The maroon-robed Panchen Lama sat with Mila on a bench in the family's bright new concrete house and talked about a wide range of issues including local living standards, incomes and religious life.The 11th Panchen Lama gives head-touch blessings to local devotees in front of Sanyai Monastery in Nedong County of Shannan Prefecture, southwest China's Tibet Autonomous Region, on June 8, 2010. The 11th Panchen Lama finised Tuesday the two-day visit in south Tibet's Shannan Prefecture where he held large prayer services and gave head-touch blessings to more than 5,000 local devotees.Patting the head of a three-year-old, the Panchen Lama, now in his 20s, told Mila's family to give the children a good education. He also told the family to work hard for a prosperous life."I will pray for you," the Panchen Lama said.The Panchen Lama gave head-touch blessings to locals as he walked from home to home. He also prayed at the thirteen-century-old Sanyai Monastery.The Panchen Lama started his tour to Shannan on Monday for his first visit to the area honored as the cradle of Tibetan civilization since he was enthroned as a Tibetan Buddhist leader in 1995.He returned to Lhasa late Tuesday.The 11th Panchen Lama, who spends most of his time since the enthronement studying Buddhism in Beijing, started his annual Tibet tour last Thursday, during which he visited a number of monasteries and participated in a variety of Buddhist events.
CANBERRA, June 21 (Xinhua) -- The relationship between China and Australia is expected to be further boosted with over 20 documents of cooperation signed during the visit of Chinese Vice President Xi Jinping, Australia's media reported on Monday."The high-level visit of Xi and hundreds of aides has made it clear how keen the two countries are to do business," the Australian Associated Press (AAP) reported after the announcement of the deal in Canberra on Monday.According to AAP, Chinese companies will build mines, railways and port facilities in Australia under a series of deals.The new agreements are not only in the resources and energy sectors, but also include telecommunications, education and a quarantine protocol for exporting Tasmanian apples to China.Under one deal, Chinese companies will help fund an 8-billion-U. S.-dollar coal mine, railway and coal-loading terminal near Bowen in Queensland.The deal would yield 4 billion Australian dollars (3.53 billion U.S. dollars) in exports each year for 25 years, Rudd said.
WASHINGTON, June 19 (Xinhua) -- The International Monetary Fund's chief Dominique Strauss-Kahn on Saturday welcomed China's decision to further reform its exchange rate mechanism and said that the move will benefit Chinese consumers.China's announcement is "a very welcomed development," Strauss-Kahn said in a statement.The move "will help increase Chinese household income and provide the incentives necessary to reorient investment toward industries that serve the Chinese consumer," he said.The People's Bank of China, China's central bank, earlier on Saturday announced a decision to proceed further with the reform of the exchange rate regime to enhance the flexibility of the RMB's exchange rate.
来源:资阳报