China to become world's largest retail market in 2019: report

A screen shows the gross merchandise volume of Tmall on Nov. 11, 2018 surpassing RMB 213.5 bIllion yuan, in Shanghai, east China, Nov. 12, 2018. China may overtake the United States as the world's biggest retail market this year, according to a report published on Jan. 23, 2019 by research firm eMarketer. The report predicted that China's total retail sales will grow 7.5 percent to reach 5.636 trillion U.S. dollars in 2019, while that of the United States will grow 3.3 percent to 5.529 trillion. The sale boom, according to the report, is a result of China's rising incomes and thriving E-commerce. (Xinhua/Huang Zongzhi)