BEIJING, Feb. 1 (Xinhua) – China’s internal trade market has exceeded 70 million by the end of 2018, up 10 percent year-on-year, official data showed.
The Ministry of Commerce said in a press release on Thursday that it accounted for 68 percent of total market entities last year.
Domestic trade includes both wholesale and retail industry, accommodation industry, catering and housing services in China.
The newly added market entities for domestic trade in 2018 reached 14.12 million, equivalent to an average of 39,000 daily, said Gao Feng, spokesman for the Ministry of Commerce.
The value added of domestic trade was 11.7 trillion yuan (about 1.75 trillion US dollars) in 2018, accounting for 13 percent of GDP and second only to industrialization.
Gao said more than a quarter of China’s employers had been engaged in domestic trade in 2018, up 8.5 percent year-on-year to more than 200 million.
Taxes on wholesale, retail, accommodation and catering industry rose 11.9 percent year-on-year to 2.4 trillion yuan, 2.8 percentage points faster than the growth of total tax revenue, according to data released on Thursday