Ministry of Economic Affairs: Wholesale industry revenue reached a record high of 1.85 trillion yuan in August, and challenges exceeded 2 trillion yuan in September

The Statistics Department of the Ministry of Economic Affairs announced today (23rd) the revenue statistics of domestic demand industries in August. Among them, the wholesale industry revenue was 1.8501 billion yuan, a record high. The Statistics Department predicts that the wholesale industry revenue in September will challenge 2 trillion yuan for the first time, and the annual growth rate continues to be strong.

The revenue of the wholesale industry in August was 1.8501 billion yuan, an annual increase of 65.4%. This was mainly due to the continued expansion of technological applications such as AI, high-performance computing and cloud services, and the strong demand for global AI infrastructure, which boosted the shipment momentum of related electronic components and chemicals. Among them, the machinery and equipment wholesale industry increased by 119.9% year-on-year. The wholesale industry of academic materials increased by 27.2% year-on-year. The wholesale industry of building materials, pharmaceuticals and cosmetics, and automobile and motorcycle wholesale industries increased by 8.8%, 9.4%, and 5.9% respectively due to downstream inventory replenishment and increased demand from dealers. The cumulative revenue in the first eight months of this year was 12.6424 billion yuan, an annual increase of 39.8%.

Retail revenue in August was 416.8 billion yuan, an annual increase of 6.5%, which benefited from the purchase opportunities of Zhongyuan Purdue and Mid-Autumn Festival gift boxes, the addition of new department stores and new brands, and the hot sales of new mobile phone products. The sales industry increased by 13.1% annually, supermarkets increased by 8.7% annually, mass merchandisers increased by 9.0% annually, department stores increased by 8.4% annually, and the retail industry of information communications and home appliances increased by 10.9% annually. In addition, as the automobile market gradually recovered, the automobile and motorcycle retail industry increased by 5.8% annually. Cumulative revenue in the first eight months of this year was 3.2983 billion yuan, an annual increase of 4.9%.

The revenue of the catering industry in August was 95 billion yuan, an increase of 1.8% year-on-year. Among them, restaurants and beverage shops benefited from the demand for summer vacation and festival dinners, as well as the expansion of operation scale, and increased by 0.3% and 7.4% year-on-year respectively. The catering and group catering contracting industry increased by 11.0% year-on-year due to the increase in cross-border tourist arrivals during the summer. Inflight meal sales increased by 11.0%. The cumulative turnover in the first eight months of this year was 737.2 billion yuan, an annual increase of 3.7%.