BEIJING - China's retail sales rose 14.7 percent year-on-year to 3.37 trillion yuan ($533.8 billion) in the first two months of this year, the National Bureau of Statistics (NBS) announced Friday.

After adjusting for inflation, the real growth rate came in at 10.8 percent, the NBS said.

Urban retail sales of consumer goods topped 2.91 trillion yuan in the January-February period, up 14.7 percent year-on-year, while retail sales in rural areas rose 14.6 percent to 454.4 billion yuan from a year earlier, the NBS said.