Retail spending in China to reach $1.2 trillion in 2010

Chinese retail spending is expected to grow by more than 11% per year to reach 10 trillion yuan ($1.2 trillion) in 2010. Domestic retail spending now accounts for some 33% of Chinese spending, way below the 80% figure seen in the US. China’s trade surplus rose by 47% to $9.49 bln in January 2006.