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To: Bob Strickland who wrote (35046)	8/8/1998 1:19:00 PM
From: John Rieman	Respond to of 50808

Retail sales strong in Shanghai........................... Shanghai's Consumer Goods Sales Grow Amid Declining Prices Sales of consumer goods grew steadily Shanghai in the first half of this year amid declining prices, official figures indicate. Shanghai's total sales of consumer goods reached 71.35 billion yuan (8.6 billion US dollars) in the first six months, up 9.6 percent year-on-year, or a rise of 14 percent after adjusting for inflation. The retail price index has been declining steadily in Shanghai this year. The January-June price index was 3.9 percent down from the same period last year. Chain-store businesses have become a major driving force for the expansion of Shanghai's commercial industry. The chain stores had a combined retail sales volume of 5.74 billion yuan (692 million US dollars) in the first half of this year, a surge of over 70 percent from the corresponding period of last year. China Economic Information(08/06/98)