In the first quarter, the added value of China's wholesale and retail industries was 3.5 trillion yuan, a year-on-year increase of 4.1%.

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Since the beginning of this year, the Ministry of Commerce has earnestly implemented the decisions and deployments of the Party Central Committee and the State Council, innovatively advanced the development of a modern commercial circulation system, and promoted the high-quality development of the wholesale and retail industries. According to data from the National Bureau of Statistics, in the first quarter, the added value of China’s wholesale and retail industries was 3.5 trillion yuan, up 4.1% year-on-year, accounting for 10.5% of GDP. China’s wholesale and retail industries have gotten off to a good start, providing strong support for building a strong domestic market. Market operations started steadily, and most business formats maintained growth.

From the wholesale sector perspective, in the first quarter, the transaction value of commodity markets that the Ministry of Commerce focuses on grew by 8.6% year-on-year; among them, the transaction values of the production materials and industrial consumer goods categories grew by 16.1% and 10.7%, respectively.

From the retail sector perspective, according to data from the National Bureau of Statistics, in the first quarter, retail sales of goods amounted to 11.3 trillion yuan, up 2.2% year-on-year. Among retail businesses above the designated size, the retail sales of convenience stores, supermarkets, and specialty stores grew by 8.3%, 5.1%, and 0.5% year-on-year, respectively. (Ministry of Commerce)

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