China's slower growth in consumption in line with high-quality growth

Though last Year's growth rate in total social retail consumption lowered by 1.2 percentage points compared to 2017, it is in line with China's current development stage and its determination to transform to high-quality growth, Chinese Commerce Minister Zhong Shan said on Saturday.

consumption remained the biggest driver of economic growth in 2018 for the fifth consecutive Year. Total retail sales reached 38.1 trillion yuan, up by 9 percent, according to Ministry of Commerce (MOFCOM).

The contribution of final total expenditure to economic growth was 76.2 percent, up by 18.6 percent Year-on-Year.