During the first half of 2007, the total amount of merchandise and retail sales for social consumer goods reached 506,472 million yuan and 124,103 million yuan, up 26.2% and 16.7% over the same period of last year, according to the Economic and Trade Commission of Guangzhou Municipality, as the Guangzhou Daily reports.

The growth for the total volume of the retail sales for social consumer goods in Guangzhou reached a new height over the past ten years and is higher than Shanghai, Beijing, Tianjin and Shenzhen.

Due to the favorable macroeconomic environment, the hot financial investment markets and the appreciation of RMB, citizens seem more generous. What's more, consumption in the high-end market is booming.

Statistics show that, in the first two quarters of this year, sales for gymnastic and recreational goods increased by 36.6%, for vehicles by 28.1% and for food, beverages, cigarettes and alcoholic by 21.2%. Many large shopping malls in Guangzhou like Guandbuy, Guangzhou Friendship Store and TeeMall, all witnessed a profitable growth over the past six months.