Retail sales surge during holiday
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China.org.cn, January 29, 2012
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A customer views edible oil products at a shopping mall in Shandong Province. Retail sales rise sharply during the Spring Festival holiday. [CFP] |
China's retail sales during the week-long Spring Festival holiday increased16.2 percent year-on-year, boosted by a variety of promotional offers, according to data released by the Ministry of Commerce (MOC) on Saturday.
Shops and restaurants across the country earned 470 billion yuan (US$74.4 billion) in sales volume, with that of clothes, jewelry and foods up 18.7 percent, 16.4 percent and 16.2 percent respectively, the MOC said.
The Spring Festival, or Chinese Lunar New Year, which fell on Jan. 23 this year, is traditionally a time for family reunions in the nation. Businesses experience a boom during the period as people flood to shops and restaurants.
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