70% of China's products to be in oversupply

According to the latest survey report released by the Ministry of Commerce, in the second half of this year, among 600 categories of major consumer goods in China, 172 categories will be basically in balance, accounting for 28.7 percent, while 428 categories will be in excess supply, making up 71.3 percent, and no product will be short of supply.

【趣味英语】春节小知 世界节日（1）Spring

Compared with the first half, products with balanced supply and demand in the second half will decline by 11 types and the proportion of such products will also drop 1.8 percentage points. Broken into categories, daily life necessities, textile and electric appliances have the highest ratio of oversupply while such ratio of recreational and sports products and communication products will exceed 80 percent. 19 categories of hardware and electric materials will be all oversupplied while five types of fuel will be in tense supply but still develop a balance between supply and demand.

As a whole, in 2005 China's total retail sales of consumer goods is likely to rise nearly 13 percent but supply and demand of most consumer goods for daily life will slightly fluctuate. Market supply, demand and price of some items will change evidently due to many factors.