In the first half of the year, retail sales nationwide reached a total of 15.6 trillion yuan. That was up 10.3 percent year on year. Growth speed was slightly down 0.1 percentage points from the same period last year, but it remained on the same level with the first quarter of this year.

According to the report, foreign trade continued to be under pressure in the first six months of 2016. Total trade volume stood at 1.7 trillion US dollars, down 8.7 percent year on year.

Breaking it down, exports were down 7.7 percent while imports declined 10.2 percent. However, both imports and exports fell at a slower rate than in the first quarter.

In terms of destinations, exports to the European Union rose 1.3 percent while those to the US and ASEAN countries declined. On the other hand, trade with emerging markets and countries along the belt and road region, for example Pakistan, Russia, India and Egypt, all enjoyed positive growth.