Metals News
China's Retail Sales up 13% During Three-day New Year Holiday
data analysis
Dec 7,2009

BEIJING, Jan. 4 -- Retail sales rose 13 percent year-on-year in the three-day New Year holiday, China's Ministry of Commerce (MOC) reported on Sunday.

    The 1,000 retail enterprises involved in the calculation reported total revenue of 12.5 billion yuan (1.83 billion U.S. dollars) from Jan. 1 to Jan. 3.

    An unidentified official from the MOC Market Operation division said sales promotions and exhibits boosted consumption nationwide.

    As the major holiday of the year, the Spring Festival, is approaching, food, discounted clothes, shoes and home appliances sold well, although luxury goods sales declined, he said.

    Restaurants were busy with bookings of families and friends. On Jan. 1, key restaurants in the survey saw an 18 percent rise in revenue, compared with the previous day. Also on New Year's Day, 11 outlets of the Quanjude roast duck restaurant had a 15 percent rise in combined income.

    Prices of daily necessities remained stable over the three-day period, the ministry said.

    (Source: Xinhua)

China economy macroeconomy
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