Even these robust retail sales understate the strength of consumer spending, says ArthurKroeber of Dragonomics, a Beijing-based economic research firm.
"I think the leadership may be looking at the recent performance and over-estimating how good they really have done, " said ArthurKroeber, managing director of the research firm Dragonomics.
ArthurKroeber of GK Dragonomics, a consultancy, says the country still enjoys a considerable tailwind from urbanisation and a huge potential for productivity gains as it adopts new technology.