Shanghai's retail sales expanded 10.7 percent from a year earlier during the three-day Labour Day holiday, faster than the 5.5-percent rise during the Spring Festival, thanks to good weather and retailers' aggressive marketing, the Shanghai Commission of Commerce said on Sunday.
Consumers spent CNY3.29 billion (USD534.9 million) during the holiday, with many stores cooperating with online shoppers to promote products.
China remains the world's largest retail construction site with over 50 percent of all developments, and has eight of the top-10 cities building the biggest shopping centres, a research released on Wednesday by global property advisor CBRE showed.
If you're an ecommerce company in China, you should be on a shopping spree right now. Studies show that more than anywhere else in the world, Chinese customers want a "total retail" experience.
Shopping center space development is focused in China, according to the latest Global Viewpoint from CBRE Research.
More than half of the shopping center space under construction in the 180 countries surveyed by CBRE is taking place within China’s borders. Shanghai takes first position with 3.3 million square metros of space under construction—more than the combined total of all 86 European cities, excluding those in Russia and Turkey.
Shanghai's Consumer Price Index rose 2.5 percent from a year earlier in March, down from the 2.7 percent gain in February, the Shanghai Statistics Bureau said on Monday. The pace was largely in line with the national average of 2.4 percent last month, indicating moderate inflationary pressure in the city.
Consumer confidence in Taiwan remained the lowest in the Greater China region during the first quarter of 2014, according to a survey published in Beijing on Tuesday. Taiwan scored 79.63 out of 200 in terms of consumer confidence, while the score for mainland China was 91.1, for Macau 85.99 and Hong Kong 84.3, according to the quarterly survey published by five universities in the region, including Taiwan's Fu Jen Catholic University.
Consumer confidence fell in China for the third consecutive month as optimism about personal finances weakened to the lowest in seven months, a private report showed.
The monthly MNI Consumer Indicator dipped to 91.4 last month from 91.5 in February, Market News International, a unit of Deutsche Boerse Group, said in a report on Wednesday.
Consumer confidence has fallen in recent months as weak economic data and concerns over the financial system have hurt sentiment.
By shifting the focus of its economy towards consumption, China is essentially putting a billion new consumers into the world market and the impact is likely to be dramatic, says the chairman of global exporter Li & Fung.
"Something very interesting is going on in China comparable to 1979 when Deng Xiaoping opened up China," William Fung told CNBC on Wednesday, referring to the former Chinese leader who opened up the economy and paved the way for a period of spectacular growth.
China's retail sales – a key measure of consumer spending – increased 11.8 percent from the year before, according to the National Bureau of Statistics. China's industrial output rose 8.6 percent in January and February.
The figures were less than analysts had been expecting, adding to fears of a slowdown.
The data comes as China's leaders wrap up their parliamentary session, known as the National People's Congress.
China remains "all the rage" for retailers, especially Asian retailers.
Fifty-eight percent of Asia-Pacific-based retailers are targeting the Chinese market, according to a recent study by property consultant CBRE, making it the "most sought after" market for Asian retailers.
With CNY23.4 trillion (USD3.81 trillion) retail market that is expected to continue to expand into 2014, and the government's plan to double household income by 2020, it's no surprise that China displays some of the highest consumer sentiment in the world.