Retail sales of consumer goods grew at a nominal rate of 14.7% to RMB6.49 trillion from January to April in China, faltering from the growth of 17-18% seen last year.

China, Japan and South Korea are in talks to form a free trade zone which is among the basket of plans to strengthen regional cooperation and establish closer business ties.

The retail prices of fuel oil in China will be lowered starting from midnight May 10, announced the National Development and Reform Commission (NDRC) yesterday.