Beijing businesses thrive during New Year holiday

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Beijing's consumer market saw a significant surge during the three-day New Year holiday ending Monday as the city launched a series of winter-sports-themed shopping events.

Statistics from the Beijing Municipal Commerce Bureau show that the sales revenue of the city's key retailers, supermarkets, restaurants and e-commerce companies amounted to 3.89 billion yuan during the holiday, up 18.8% year on year. The 52 major business areas around the city also saw more than 16 million customer visits, up 35% year on year. 

Due to the upcoming Beijing 2022 Olympic and Paralympic Winter Games, winter sports have become a new growth driver for the city's consumption sector. Ski resorts and relevant theme parks received more tourists during the past three days following Beijing's launch of the 2022 winter sports consumption promotion season on Dec. 31. More than 40 winter sports activities and exhibitions are currently open at all city-level parks.

In addition, major shopping malls ramped up sales promotion events during the holiday to bolster Beijing's ambition of building itself into an international consumption center city. Joy Breeze, the mall brand of state-owned conglomerate COFCO Corporation (COFCO), recently opened its third branch in Beijing's Fengtai district. The newly-renovated Cuiwei Department Store saw more than 45,000 visits during the holiday. Tourist flow in the Xidan business area also increased nearly 60%.

The sales revenue of time-honored restaurants across the city, such as Peking duck restaurant chain Quanjude and steamed bun restaurant chain Qingfeng Baozi also picked up during the past three days.

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