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Holiday helps spur retail consumption
Latest Updated by 2006-05-10 10:12:57
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THE week-long May Day holiday has helped boost China's retail consumption, with sales of consumer goods growing 16 percent from the previous year to 278 billion yuan (US$34.8 billion), said the Ministry of Commerce on Monday (May 8).

Between May 1 and 7, the country's "Golden Week" holiday, the sales volume of China's 1,000 key retailers monitored by the ministry reached nearly 50 billion yuan, a growth of 18 percent.

Business was especially brisk in big department stores, supermarkets, telecommunications equipment stores and shops selling clothing and building materials, as well as in home appliance chain stores, the ministry said.

The business volume of the catering industry increased by 18 percent during the "Golden Week" holiday, it said.

Another report said the business volume of China's catering industry in 2006 is expected to exceed one trillion yuan.

The ministry's data showed the business volume in catering sector stood at 888.68 billion yuan last year, with the employment of 20 million people.

Editor: Wing

By: Source: Szdaily web edition
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