China's Retail Sales Of Consumer Goods Up 17%

China's retail sales of consumer goods rose 17% to US$1.2 trillion in 2007 from a year ago, compared to a 13.7% increase in 2006.

 Meanwhile, official data revealed that prices of food items soared in early January. On an annual basis, prices of edible oil rose 58%, while pork and beef prices climbed 43% and 46% respectively. The Ministry urged all departments to ensure market supply, particularly during the Olympic games and upcoming Spring Festival to restrict price rises of essential commodities