(Yicai Global) Dec. 11 – China's gross domestic product will grow by about 6.7 percent next year, while overall consumer goods retail sales will rise by around 10.1 percent as intelligent and eco-friendly products become increasingly popular.

Mid- to high-end products will be popular during the upcoming New Year and Spring Festival holidays, China's General Chamber of Commerce said in a market forecast on Friday.

Rapid development in the tourism, sports, entertainment and healthcare markets will boost sales of related products, while sales growth in rural areas will continue to outpace that of cities. The e-commerce sector will sustain its strong momentum, while sales at brick-and-mortar stores will stabilize, it said. Prices will also continue to rise moderately.

There was a sharp increase in online sales as the consumer goods market grew steadily this year, said CGCC chair Jiang Ming said. Overall sales rose 10.3 percent over the first 10 months of the year, equaling the record set in the same period of last year, and growth will continue for the final two months of the year, in line with full-year targets.

The stable growth of the Chinese economy has laid a solid foundation for continuous development in the consumer goods market. The government's rollout of policies to boost the sector has created favorable conditions for consumer spending. Companies engaged in commodities have stepped up efforts to undertake business transformation and pursue innovations revolving around quality and customer experience, business diversification, cost reduction and artificial intelligence technology in order to meet customers' individual requirements. All of these factors have positively influenced the healthy development of the consumer goods sector, the CGCC added.